The Residence at Waterstone Apartments

225 Galvariun Court, Pikesville, MD 21208

Property Overview

The Residence at Waterstone is a 255-unit, Class A apartment community situated on 25.2 acres in Pikesville, Maryland. Originally designed as “for sale” condominiums, each unit is a spacious townhouse-style residence with its own direct access garage and private entry. The living space of each unit is bright and features gourmet kitchens and spacious closets.

Community highlights include a cafe, clubhouse, resort-style swimming pool, a business center and conference room and a 24-seat theater/media room. Other amenities include a tennis court, fitness center, aerobics room, library and Wi-Fi access. As a result of the high quality lifestyle the Residence at Waterstone offers, resident turnover has averaged 35%, which is far below the 57% to 62% national average.

Investment at a Glance

Location: Pikesville, MD

Property Type: Apartment Community

Acquisition Date: April 6, 2012

No. of Buildings: 29

No. of Units: 255

$64,700,000 Total Purchase Price
370,591 square feet Total Rentable Area
Class A Building Class