Baltimore-area apartment portfolio sells for $236M

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A pair of Los Angeles investment groups have paid $236 million for six apartment complexes spread across suburban Baltimore. TruAmerica Multifamily and funds managed by Ares Management (NYSE: ARES) acquired the 1,402-unit portfolio from UDR Inc. (NYSE: UDR). The properties are Dominion at Eden Brook and Dominion Kings Place in Columbia; Lakeside Mill in Owings Mills; Ellicott Grove in Ellicott City; Arborview at Riverside and Liriope in Belcamp; and Dominion Constant Friendship in Abingdon. The…