Pangea Properties has purchased 42 rental units in three apartment buildings in the Walbrook neighborhood of West Baltimore, according to a statement.
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Pangea owns and manages about 5,000 rental units in Chicago and Indianapolis. The Walbrook units are the trust's first properties on the East Coast.
The three-and-a-half-year-old company plans to invest between $50 million and $100 million in multifamily units in Baltimore in the next two years, the statement said.