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Sail Cloth Factory apartments sell for $12.9M
Sail Cloth Factory apartments sell for $12.9M

Philadelphia-based Delancey Street Capital said Tuesday it bought the Sail Cloth Factory apartments near the University of Maryland, Baltimore for $12.9 million last month, the firm’s fourth acquisition in the city. Delancey Street President Daniel Kline said he was drawn by the 107-unit building’s prime location, as well as lower rents that he said make the property stand out. One bedroom apartments at the Sail Cloth Factory start around $1,110, but rates in nearby buildings that have been more recently renovated often start several hundred dollars higher. "This building offers the best value really for anybody affiliated with the University of Maryland," he...