The Goldstar Group, a Bethesda-based private investment firm, announced Wednesday that it purchased the 300-unit Shelter Cove Apartments in Odenton for approximately $43 million.
Goldstar intends to proceed with ongoing renovations to 200 of the apartment units, set to be completed in three years. The property includes a mix on one-, two- and three-bedroom units and such amenities as a clubhouse, outdoor swimming pool, fitness center, playground and tennis courts.
Located three miles from Fort Meade, Shelter Cove provides "quality housing" for some of the base's 56,000 employees, Goldstar said in the announcement.
"Ft. Meade continues to be the beneficiary of new or expanded government programs, which translates to new jobs and the on-going requirement for quality housing," stated Eric May, a Goldstar partner.