MAGNOLIAHAUS
Frederick, MD
Magnoliahaus is a multifamily development within Frederick’s Tuscarora Creek community. The site consists of 189 rental apartments spread across six buildings (3 and 4 story), with a separate 5,000 SF building containing the community clubhouse and leasing office. In addition to 240 surface parking spaces, there are 44 covered spaces and multiple electric vehicle charging stations. There is also an enclosed walk-up trash area. Construction was completed in July 2023 and the property is approximately 85% stabilized with rent growth that is 25% above initial underwriting. Full stabilization is projected for early 2025 with project close-out in 2nd Quarter 2025. Investor returns are projected at 15% per year.
The site is less than a ten-minute drive from the City of Frederick’s major employers (Fort Detrick, Riverside Commerce Park, etc.) and within commuting distance to Washington, Baltimore, and Northern Virginia. Residents shopping needs can be met at Clemson Corner (Wegmans, Lowes, et al) or Amber Meadows Shopping Center (Weis Food Markets & Pharmacy), both of which are a 7-minute drive from the property. Downtown Frederick’s 250+ dining, retail, and entertainment establishments are 12 minutes from the property.
Sponsor Partner: Capital City Real Estate
- Project Name: MAGNOLIAHAUS
- Website: Magnoliahaus Apartments
- Projected Completion Date: 2nd Quarter 2025
