View Listings
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
The Properties
The Opportunity
Document Center
Contact Us
Privacy
Terms of Use
Berkadia is pleased to present for sale the Maryland Enterprise Affordable Housing Portfolio, featuring 212 affordable units in Maryland. The properties are offered as a portfolio with 5 DC properties and can be purchased individually or in combination of these properties.
Both garden style communities boast spacious floor plans with walk-in closets along with plenty of community amenities. Their appeal to a diverse tenant base is enhanced by proximity to their respective submarkets’ best retail amenities, recreation hubs, and entertainment venues along with convenient access to transit services and major roadways.
THE OPPORTUNITY
212
total units
95%
leased
904 sf
avg unit size
$1,736
avg rent
$1.92
AVG Rent/SQFT
191,612 SF
Total Rentable SF
1965 - 1972
Year Built
THE portfolio
4445 Willard Avenue Suite 1200
Chevy Chase, MD 20815
D.C. OFFICE
Associate Director 614.796.0218 garret.mater@berkadia.com
GARRET MATER
Berkadia Financing
Senior Managing Director 301.202.3553 bobby.meehling@berkadia.com DC, DRE #BR40000206
Robert Meehling
Affordable Senior Managing Director 253.653.3313 brandon.grisham@berkadia.com WA, DRE #26367
Brandon Grisham
Investment Advisors
Contact us
BACK TO TOP
Senior Managing Director 614.468.5805 mathew.napolean@berkadia.com
Mathew Napolean
Associate Director
240.793.8513
hassan.dixon@berkadia.com
Hassan Dixon
Enterprise Portfolio Maryland
Visit Doc Center
*Properties Can Be Acquired Individually
1
2
3
5
4
Year Built - 1965
Total rentable SF - 94,062 SF
Units - 106
Avg Unit Size - 887 SF
Central Gardens II
6804 Central Avenue
BACK TO MAP
DOC CENTER
Year Built - 1972
Total rentable SF - 97,550 SF
Units - 106
Avg Unit Size - 904 SF
Forest Ridge
5890 Stevens Forest Road
BACK TO MAP
DOC CENTER
THE LOCATION
Senior Managing Director 240.396.1090 drew.white@berkadia.com DC, DRE #SP98359700
Drew White
Senior Financial Analyst 206.512.5567 ryley.lewis@berkadia.com WA, DRE #22027158
Ryley Lewis
Managing Director
703.408.7701
ted.hermes@berkadia.com
Ted Hermes
Director
781.801.2378
phil.brannigan@berkadia.com
Phil Brannigan
Opportunity
Photo Gallery
Contact
Doc Center
Privacy
Terms of Use
BACK TO MAP
DOC CENTER
Capitol Heights and Columbia, MD Affordable Housing Opportunities
212 UNITS
The portfolio features units with an impressive average size of 904 square feet, significantly surpassing the typical dimensions found in their respective submarkets. These spacious units are thoughtfully designed with generous walk-in closets, offering residents ample living and storage space, and enhancing overall comfort and livability.
INVESTMENT HIGHLIGHTS
1
EXPANSIVE & WELL-DESIGNED FLOOR PLANS
Situated in submarkets experiencing a pronounced shortage of affordable housing options, the properties are positioned to capture strong and sustained demand. This scarcity ensures a competitive edge for the portfolio, attracting a steady stream of potential tenants seeking quality housing at accessible price points.
2
HIGH DEMAND FOR AFFORDABLE HOUSING
Both Howard County and Prince George’s County offer payment in-lieu of taxes (PILOT) agreements for affordable housing giving incoming buyers the opportunity to hedge their current and future property tax expense.
3
County PILOT Opportunity
Both properties enjoy a prime location near major submarket landmarks. This includes The Mall in Columbia, a bustling shopping hub with over 180 retailers offering a wide range of shopping and dining experiences, and the Northwest Stadium, a premier venue with a seating capacity exceeding 62,000, hosting a variety of events and activities. This strategic positioning provides residents with unparalleled access to entertainment, shopping, and leisure opportunities.
4
Proximity to Submarket’s Amenities
Central Gardens II is located in Capitol Heights, MD, a suburb of Washington, DC, appealing to a diverse tenant base. The Property is within walking distance of everyday amenities and is less than two miles from the Northwest Stadium, a premier entertainment venue for the greater DC area. It is also within one mile of its assigned public schools, making it particularly attractive to families. The Property’s appeal is further enhanced by its proximity to the DC Metrorail system, with the Addison Road-Seat Pleasant Metro station under half a mile away.
Capitol Heights
Forest Ridge is located in the affluent Oakland Mills Village in Columbia, MD, conveniently located between Baltimore and Washington, D.C., offering tenants exceptional access to the area’s premier amenities. Its prime location is just a short distance from Columbia Mall, the city’s central shopping destination, featuring top retailers like Nordstrom, Apple, and Barnes & Noble. Residents can also easily walk to grocery stores such as Whole Foods and LA Market, as well as a variety of notable dining options. Southeast of the property lies Columbia Crossing, another popular shopping and dining hub with retailers like Target, Walmart, DICK’s Sporting Goods, and T.J. Maxx. The city is also home to abundant recreational opportunities and public outdoor spaces, providing residents with numerous parks, trails, and green areas for leisure and activities.
The Howard County public school system, consistently ranked among the top districts, serves the Property. The designated elementary, middle, and high schools are within one mile, making it particularly appealing to families.
Columbia residents benefit from excellent employment access both within and outside Howard County. The Johns Hopkins Howard County Medical Center, the county’s second-largest private employer with over 2,000 employees, is just three miles from Forest Ridge. Additionally, Columbia Pike is accessible within five minutes by car, providing a direct connection to Washington, DC, and Baltimore, MD—both major employment hubs.
Columbia
4445 Willard Avenue Suite 1200
Chevy Chase, MD 20815
D.C. OFFICE
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
The portfolio features units with an impressive average size of 904 square feet, significantly surpassing the typical dimensions found in their respective submarkets. These spacious units are thoughtfully designed with generous walk-in closets, offering residents ample living and storage space, and enhancing overall comfort and livability.
INVESTMENT HIGHLIGHTS
1
EXPANSIVE & WELL-DESIGNED FLOOR PLANS
Situated in submarkets experiencing a pronounced shortage of affordable housing options, the properties are positioned to capture strong and sustained demand. This scarcity ensures a competitive edge for the portfolio, attracting a steady stream of potential tenants seeking quality housing at accessible price points.
2
HIGH DEMAND FOR AFFORDABLE HOUSING
Both Howard County and Prince George’s County offer payment in-lieu of taxes (PILOT) agreements for affordable housing giving incoming buyers the opportunity to hedge their current and future property tax expense.
3
County PILOT Opportunity
Both properties enjoy a prime location near major submarket landmarks. This includes The Mall in Columbia, a bustling shopping hub with over 180 retailers offering a wide range of shopping and dining experiences, and the Northwest Stadium, a premier venue with a seating capacity exceeding 62,000, hosting a variety of events and activities. This strategic positioning provides residents with unparalleled access to entertainment, shopping, and leisure opportunities.
4
Proximity to Submarket’s Amenities
601 Union St.
Suite 3909
Seattle, WA 98101
SEATTLE OFFICE
Visit Enterprise DC