McCormack Baron Salazar, Baltimore City Secure Financing for $398M Affordable Housing Redevelopment
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Baltimore office bidding has been concentrated in deeply repriced trophy product. Healthcare and port-logistics industrial continue to attract value-add capital. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
Editorial analysis · Real Estate Trail Editorial
On the RET wire
- The third Baltimore story tracked on the wire in November 2026. All Baltimore coverage →
- Disclosed multifamily deal value tracked in November 2026: $1.6B across 19 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
BALTIMORE — McCormack Baron Salazar, an affordable housing developer and operator based in St. Louis, and the Housing Authority of Baltimore City have closed on financing for the next 150 apartments at Perkins Square,…
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