Westbury-based Kalikow Group and a joint-venture accomplice accept purchased a multi development activity in Salisbury, Md. for $40.15 million.
Kalikow Group pnered with Fort Lauderdale, Fla.-based Skymark Real Estate Investors for the accretion of the 30.8 acreage of abortive acreage area a 288-unit accommodation circuitous is planned to be congenital over the abutting several years, according to a aggregation statement.
The planned development, alleged Coventry Square Apments at Aydelotte Farms, will be amid in the northeast area of Salisbury. The proposed ociation will be fabricated up of 58 one-bedroom, 172 two-bedroom and 58 three-bedroom units, all at bazaar rates. The activity will additionally accommodate a house, fettle center, cyber café, calm and alfresco , alfresco pond , tennis courts, esplanade and 45 alone garages.
“We’re actual aflame to ade to adce our southeast adce strategy, deploying our basic in istic means that will crop adorable allotment while developing able communities in sought-after, adcing areas of the country, for ociation to adore at an affordable price,” Greg Kalikow, Kalikow Group nality president, said in the statement. “Coventry Square, forth with our developments in North Carolina and South Carolina comprise a growing portfolio of communities to serve the abutting bearing of our country’s attractive for hoods abounding with amenities that are amid abreast their s and their children’s s.”
The accretion was financed with a $5 actor disinterestedness adce and a $35 actor accommodation anchored th Baltimore-based Columa National Real Estate Finance beneath a Depment of Housing and Urban Development lending program.
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