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Seasons at Bel Air sells for $80 million
Seasons at Bel Air sells for $80 million

A Harford County apartment complex that spent years in receivership has sold for $80 million, said the brokerage firm that worked on the deal. The 732-unit Seasons at Bel Air was purchased by Hampshire Properties, a privately-held Brooklyn-based real estate firm that focuses on buying undervalued properties and holding them long-term, according to CBRE Capital Markets, which arranged the sale and financing for the deal after title battles cleared this summer. Hampshire Properties will likely start renovating the Bel Air apartments as they turn over and raise rents, said CBRE vice chairman Bill Roohan. “It’s a great value-add,” he said. Older multi-family complexes...

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