Lightstone Group selects Blue Ocean to take over management of Reisterstown Square Apartments
BALTIMORE, MD (March 17, 2016) — New York, NY based Lightstone Group recently selected Blue Ocean to take over management of its Reisterstown Square Apartments. Reisterstown Square is a 495-unit garden- style apartment community located in the Reisterstown Station neighborhood of Baltimore City. Conveniently located just behind the Reisterstown Road Plaza, Reisterstown Square Apartments is within walking distance of shopping and the metro. The apartment community boasts the largest square footage apartments in the area, large walk-in closets, wood floors, swimming pool, fitness center and playground.
Blue Ocean has formulated a plan to implement a series of needed improvements to the property. “We have worked together over the past few months to formulate a business plan to improve the condition and financial performance of the property. We are excited to take on this challenge and we are confident that we will achieve our goals,” says Blue Ocean President Jonathan Ehrenfeld.
About Blue Ocean
Located in Baltimore, Blue Ocean is active in syndicating, purchasing and managing commercial real estate assets in the multifamily, office, retail and industrial sectors. The Company was founded in 2004. Since that time Blue Ocean has grown its portfolio to 45 properties valued at over $300,000,000. The Blue Ocean portfolio consists of nearly 3,500 apartment homes and approximately 2,000,000 square feet of commercial space.