CX Owings Mills Multifamily
1031 Exchange/DST
Located in Owings Mills, Maryland, the Property is a 324-unit garden-style multifamily apartment complex with modern amenities and finishes. The Property was built in 2003, and it includes 10 residential buildings situated on 17.18 acres. The unit mix includes 164 one-bedroom units, 132 two-bedroom units and 28 three-bedroom units. Property amenities include a gated community, garage with remote access available, covered parking available, resort saltwater swimming pool with spa, community center, billiards room with kitchen, business center, 24-hour fitness center, grilling areas, car wash stations and more.
Owings Mills remains a desirable place to live, as evidenced by its 16% population growth from 2010 to 2020, and continues to attract an affluent populace. The average household income within a one-mile radius of the Property is approximately $102,000, with 42% of those area households earning six figures or more. Almost 60% of this population holds a bachelor’s degree or higher, and 74% work in office-based professional industries, including management, finance, business operations, and sales.*
Nicknamed “Charm City,” Baltimore draws more than 25 million visitors per year to dozens of museums, galleries, monuments and the waterfront. Several points of interest include the Walters Art Museum, National Aquarium, and Maryland Science Center. Other impressive tourist attractions include the Baltimore Inner Harbor, Fort McHenry National Monument and Historic Shrine, as well as the historic Fell’s Point neighborhood.*
Baltimore is one of the best areas in the nation for technology jobs, most notably life sciences and biotech, according to the 2021 Tech Town Index. The Baltimore MSA is home to eminent universities such as Johns Hopkins University and the University of Maryland, and top tech employers such as Anthem Blue Cross Blue Shield and Northrop Grumman. Maryland has the second-highest concentration of life sciences research & development employment of all U.S. states – more than 2.5 times the national average. Life sciences manufacturing employment grew 30.7% from 2015-2020, far outpacing other tech-heavy states such as California (8.7%), Virginia (8.6%), and Massachusetts (-6.7%). Biotech hubs, such as the University of Maryland BioPark, the Science + Technology Park at Johns Hopkins University, and Port Covington (which is expected to deliver by 2023), are increasingly competing with the nation’s top life sciences clusters in San Francisco and Boston/Cambridge, where potential clients wait two years for available space listing at the nation’s most expensive rents for lab space, office, and housing.**
*U.S. Census Bureau & Applied Geographic Solutions. “Complete Profile, 2010-2020 Census, 2021 Estimates with 2026 Projections: 4700 Riverstone Dr, Owings Mills MD 21117; 1-,3-, 5-, & 10-mi radius.” Calculated by SitesUSA, 2022, pp. 1-10.
Mirabella, Lorraine. “Visitors and citywide conventions are on the rise in Baltimore.” Baltimore Sun. 03 Oct. 2017, p. 1-2, https://www.baltimoresun.com/business/bs-bz-baltimore-tourism-report-20171003-story.html.
Hello Baltimore. “Baltimore Maryland Things to Do.” 2020, p. 1-2, hellobaltimore.com/local_articles/things-to-do/34651/baltimore-maryland-things-to-do.
**CompTIA. “CompTIA Tech Town Index 2021.” Mar. 2022, p. 16, https://www.comptia.org/content/research/best-tech-cities-it-jobs#section11.
Dubetz, A., Kesteven, C. & Melaas, A. “New Opportunities for Job Creation in Maryland’s Life Sciences Industry.” Milken Institute. 2021, p. 5, https://milkeninstitute.org/sites/default/files/2021-10/MI_MD_Life%20
Sciences.pdf.
Mirabella, Lorraine. “Port Covington developers look to create nationallyknown biotech hub in South Baltimore.” Baltimore Sun. 01 Jun. 2021, p. 1, https://www.baltimoresun.com/business/bs-bz-port-covington-biotech-
20210601- zaud2bjdjgmfc2nwewnoonzya-story.html.
There are risks associated with participating in the offering. An investment in the Trust is speculative and illiquid, and involves significant risks, including the possibility of losing all invested capital. This material does not constitute an offer to buy or sell any securities and is authorized for use only when accompanied by the Confidential Private Placement Memorandum of CX Owings Mills Multifamily, DST (the “Memorandum”). Reference is made to the Memorandum for a statement of risks and terms of the CX Owings Mills Multifamily, DST offering and qualifications and assumptions regarding forward-looking information. The information set forth herein is qualified in its entirety by the Memorandum. No person will be permitted to invest without acknowledging that they received the memorandum and completed their review including, but not limited to, the risk factors contained therein. Securities are being offered through Orchard Securities, LLC, member FINRA/SIPC. Orchard Securities and Carter Exchange are not affiliated
Company
Carter Exchange
Location
Owings Mills, MD
Overview
Located in Owings Mills, Maryland, Mode at Owings Mills consists of 324 apartment homes with 1-, 2-, and 3-bedroom floorplans It’s centrally located in the Baltimore area and provides convenient access to local dining and shopping options and major employers.
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