McDowell Properties has completed the acquisition of the Red Run apartments in Owings Mills, MD. Red Run is a well located 520-unit apartment community that was built in two phases (1994 and 2003). McDowell Properties is excited about this value add investment and the long-term economic drivers in Owings Mills. McDowell’s business plan is to add value through interior renovations, exterior and amenity enhancements, and more hands on management of the property. The Ownings Mills economy is diversified with medical, education, government, financial services, and manufacturing jobs. In addition to a thriving employment base, Owings Mills offers an array of upscale retail and dining options, highly acclaimed public and private school systems, and an exceptional quality of life. Red Run’s location also offers residents convenient access to Interstates, Metro stations, and local thoroughfares for easy commuting in and around the Baltimore/Washington D.C. MSA.
McDowell Properties is a leading real estate investment company that focuses on the acquisition, management and repositioning of multifamily properties in growth markets throughout the United States. The current portfolio consists of over 13,000 apartment units. The company is based in Dallas and has regional offices in New York, Miami, Raleigh and San Francisco. The senior management team has owned and managed in excess of $7.5BN of real estate in 40 of the top 50 MSAs, with a particular focus on multifamily. McDowell is actively making investments with discretionary capital as well as through joint ventures with institutional investors.