BALTIMORE, MD — Blue Ocean continued to offload its smaller properties with the sale of Prescott Square Apartments. Prescott Square is a 74 unit, garden community located at 4400 Old Court Rd. The property was purchased by Signature Properties – another Pikesville based real estate investment company.
President, Jonathan Ehrenfeld said, “Overall we were very pleased with the outcome of this transaction. Our team executed our business plan exceptionally well. With the sale of Prescott we continue to reallocate our resources to our other assets – both legacy and new acquisitions. This is another positive step for our organization.”
About Blue Ocean
Located in Baltimore, Blue Ocean Realty is active in syndicating, purchasing and managing commercial real estate assets in the multifamily, office, retail and industrial sectors. The Company was founded in 2004. Since that time Blue Ocean has grown its portfolio to 45 properties valued at over $300,000,000. The Blue Ocean portfolio consists of nearly 3,500 apartment homes and approximately 2,000,000 square feet of commercial space.