Bethesda-based Goldstar Group has purchased a 140-unit apartment complex in Howard County for $23.6 million.
Ashbury Court Apartments, located at 10095 Washington Blvd. N. in the Howard County section of Laurel, is a mixed-use project with 32,000 square feet of first-floor retail. The deal includes an option to build a second phase of residential.
Goldstar Group said it was attracted to the property in part due to the “repositioning opportunities” in Laurel, which is close to both Baltimore and Washington, D.C.
D.C.-based MAC Realty Advisors LLC represented the seller, Patriot Realty. MAC’s executive director, Andrew McAllister, said that the development’s close proximity to the Laurel MARC station also made the property attractive.
“Ashbury Courts is another example of the tremendous demand for transit-oriented, mixed-use properties in the Washington D.C. Metro area,” McAllister said in a statement.
The company said that Fort Meade, the largest employer in Maryland, also helped drive interest.
Originally published in the Baltimore Business Journal