Lee & Associates Maryland, a fully-integrated commercial real estate brokerage and management firm, has brokered the sale of an 81-unit townhome portfolio located throughout the Canton and Patterson Park sections of Baltimore City for $8 million. Steve Weiss, Senior Vice President of Lee & Associates represented both the buyer, Omicelo RE I, LP, a Pittsburgh-based real estate investment fund, and the seller, East Baltimore Investments, LLC, in this transaction.

“The buyer has deep experience and an extensive portfolio in this product type, so this portfolio perfectly matched its acquisition criteria,” stated Steve Weiss of Lee & Associates. “The market for townhome rentals in the Baltimore area is extremely healthy, especially among the young professionals sector looking for larger living spaces than what is typically found in an apartment unit.”

Omicelo owns additional residential assets throughout the Baltimore metropolitan region.

Lee & Associates is a commercial real estate brokerage, management and appraisal services firm. Established in 1979, Lee & Associates has grown its service platform to include offices in the United States and Canada. Lee & Associates provides superior market intelligence in office, industrial, retail, investment and appraisal to meet the specialized needs of our clients. Visit www.leeassociates.com