ELLICOTT CITY, Md. — An affiliate of Livingston Street Capital, a private equity firm, has acquired Alta at Regency Crest, a 150-unit active adult multifamily community in the greater Baltimore submarket of Ellicott City.
Situated near healthcare, retail and transportation, Alta at Regency Crest rises four stories and offers one-, two- and three-bedroom floor plans.
Livingston Street Capital’s affiliate acquired the asset from a private multifamily developer. The price was not disclosed.
This acquisition comes on the heels of three recent active adult living property acquisitions by Livingston affiliates, including Schuyler Commons, a 144-unit community in Utica, New York; Glenmont Abbey Village, a 148-unit community near Albany, New York; and Hanover Place, a 150-unit community in the Chicago suburb of Tinley Park, Illinois.
“We studied this sector for a long time; it dovetails well with our prior experience,” says Peter Scola, founder and co-CEO of Livingston Street Capital. “These acquisitions are consistent with our investment strategy of building a defensive core and core-plus portfolio that focuses on fundamental needs of consumers, like housing for one of the largest segments of the U.S. population.”