MultifamilyBaltimore High-Rise

$90m luxury high-rise in prime Baltimore location

Our US residential portfolio continues to grow with the acquisition of a $90 million luxury high-rise in Baltimore, Maryland. The 17-story property at the heart of Baltimore’s downtown includes a health club, game room and a rooftop swimming pool that services 347 modern, loft-style apartments with private balconies. The acquisition was completed in partnership with Broadshore Capital Partners -majority owned by Guardian Life, a New York-based Fortune 500 company with more than $71 billion of assets under management.

The acquisition is in line with our Meds & Eds strategy in Baltimore, a strategy that focuses on acquiring multifamily residential properties in markets centered around anchor institutions in the medical and educational sectors to best support stable population growth. The Baltimore site is driven by John Hopkins University and Hospital, one of the largest medical networks globally, contributing to over $9 billion to the state’s economy. It is also located across from Mercy Hospital, and in close proximity to the University of Maryland. Other attributes contributing to the strength of the property’s location include employment, entertainment and retail facilities such as: Baltimore’s business district, the National Aquarium, Oriole Park at Camden Yards, M&T Bank Stadium and established retail and dining outlets in Baltimore’s city center.

The multifamily residential sector continues to prove its resilience throughout the COVID-19 pandemic, with over $140 billion of capital deployed in the sector during 2020 alone and 90%+ collection rates.

GFH’S total assets and funds under management now exceed $13 billion.

Investment Features

Strong Partners

Partnered with Broadshore, a leading real estate investment management and advisory services company majority owned by Guardian Life with approximately $71 billion in assets under management.

Prime Location

Baltimore is a timeless magnet for human and intellectual capital allowing for a strong population growth of 9.5% over the past ten years driven by the Meds & Eds (medical and educational institutions) forces in the market such as Johns Hopkins University and Johns Hopkins Hospital network. Johns Hopkins employs more than 50,000 in Baltimore and contributes more than US$9 billion in economic output to the state of Maryland.

Robust and future-proof

The sector has demonstrated proven resilience during COVID-19, with higher-than-average rent collection rates and increased public appetite for multifamily living spaces.


Contact us to learn more about our existing investments and our investment activities.

Contact Us

c.US$90

Deal Value ($mn)

8-10%

YOY Avg. Rent Growth