AMAC Acquires 555-Unit Multifamily Property in Cheverly, Maryland
Marks First Investment of AMAC Fund lll
NEW YORK (February 8, 2019) – AMAC, a Manhattan-based real estate investment firm, has acquired Cheverly Station, a multifamily property containing 555 residential units, located in Cheverly, Maryland.
Cheverly Station features one-, two- and three-bedroom apartments, ranging in size from 722 to 1,100 square feet. In-unit amenities include new windows, spacious closets and updated appliances. Community amenities include a playground, fitness center, dog park and swimming pool.
The acquisition of Cheverly Station marks the first investment of AMAC Fund III, a $175M multifamily-focused equity investment vehicle that closed in January 2019. The $66M acquisition received 10-year financing from Freddie Mac. The acquisition brings AMAC’s portfolio in Prince George’s County, Maryland to approximately 2,500 units.
“We are very excited to kick-off Fund III with the addition of Cheverly Station to our Maryland Portfolio,” said Maurice Kaufman, Founding Principal of AMAC. “Our market knowledge and experience supported a swift execution and transaction.”
New York-based Arbor Management Acquisition Company (AMAC) is a real estate investment firm founded in 2012. Since its inception, the company has successfully acquired more than $1 Billion of multifamily properties across the country within diverse primary and secondary markets. AMAC is actively pursuing new investment opportunities in the multifamily sector nationwide. For all inquiries and leads, please contact: Info@AMACHoldings.com or visit our website at www.AMACHoldings.com.