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The Real Estate Wonk
Baltimore's residential real estate and commercial development news
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Klein, Dolben partner on Pasadena apartments

A Baltimore-based company and its Massachusetts partner plan to build 76 more apartments at the recently acquired Reserve at Stoney Creek development in Anne Arundel County, the firms said Wednesday.

Klein Enterprises and the Dolben Co., Inc. said Wednesday they purchased the Pasadena property through the Stoney Creek Phase I LLC affiliate for $15 million. The firms also have worked together on apartment projects in Fells Point and North East.

The first 90 apartments opened at the Reserve at Stoney Creek, located close to Route 100 and Route 10, in 2011 and were fully leased within six months, according to a news release. The companies said they plan to begin construction on the next 76 apartments in a few months.

Mountain Road Partners LLC purchased the 5.9-acre 8003 Cameryn Place property in 2010 for $1.785 million, according to state land records. it was last valued at around $12.4 million for tax purposes.

nsherman@baltsun.com

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