Union Wharf Sells for $79M Amid Significant Price Drop
Deal News | Nov 06, 2024 | Fowler Property Acquisitions L
The Union Wharf apartment complex, located in Fells Point, has recently been sold to a group of investors from California for $79 million. This transaction represents a notable decrease in the property’s value compared to its last sale nine years ago. The deal was facilitated by Fowler Property Acquisitions, a firm known for managing real estate transactions. The property, which spans a large-scale residential area, has garnered attention due to its sharp decline in valuation, highlighting market dynamics and the potential impacts on regional real estate portfolios.
Sectors
- Real Estate
- Investment
Geography
- United States – The transaction involves Union Wharf located in Fells Point, Maryland, and the investors are based in California, within the U.S.
Industry
- Real Estate – Involves the transaction, management, and ownership of properties. Union Wharf's sale falls under this sector.
- Investment – Concerns various forms of capital allocation, including real estate investment—relevant to the parties involved in the acquisition and divestment.
Financials
- 79,000,000 – Sale price of the Union Wharf apartment complex.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Union Wharf | Target Company | Company | A large-scale apartment complex located in Fells Point and the subject of the recent sale. |
| Fowler Property Acquisitions | Selling Company | Company | The firm responsible for managing the sale of Union Wharf. |
| California-based Investors | Bidding Company | Company | The group of investors who acquired Union Wharf for $79 million. |