Hanover at Brew­ers Hill apart­ments sold

Baltimore Sun - - MARYLAND -

The 440-unit Hanover at Brew­ers Hill apart­ment com­plex that opened in a chang­ing part of in­dus­trial Can­ton in 2013 has been pur­chased by an in­vest­ment fund. Terms of the deal were not dis­closed. The buyer of the 3700 Toone St. prop­erty is a fund spon­sored by CBRE Global In­vestors, a real es­tate in­vest­ment man­age­ment firm af­fil­i­ated with CBRE. Texas-based Hanover Co., which de­vel­oped the com­plex, bought the for­merly in­dus­trial prop­erty in 2011 for $2 mil­lion, ac­cord­ing to land records, which value the apart­ment project at about $58 mil­lion for tax pur­poses. The Brew­ers Hill com­plex has a pool, in­te­rior court­yards, club­house and more than 640 park­ing spa­ces. It was 92 per­cent oc­cu­pied at the time of the sale. Hanover first pre­sented plans for the Brew­ers Hill site, which ex­tends two blocks to O’Don­nell Street, in 2008. The firm is work­ing on a new build­ing at the Sta­dium Square re­de­velop-

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