PHILADELPHIA (Business Wire EON) May 14, 2008 -- Empire Realty Investments was part of a joint venture group that recently closed a $5 million deal to purchase two apartment buildings in Maryland’s Baltimore/Towson market. Belvedere Court, located on Evesham Road, boasts average apartment sizes of 1,800 square feet. University Parkway is a midrise property located along West University Parkway in Baltimore and features average unit sizes of 1,000 square feet.

The properties' below-market rents, upscale neighborhoods and upside in value growth were the primary factors in these acquisitions

Both properties are within walking distance of Johns Hopkins University, Loyola University and Union Memorial Hospital and are also close to the desirable Roland Park and Murray Hill areas.

“The properties’ below-market rents, upscale neighborhoods and upside in value growth were the primary factors in these acquisitions,” said Michael Pearlstein, president of Empire Realty Investments. "Plus they’re situated in one of the strongest economic and rental markets in the country, and we’re excited to now be a part of it,” he said.

Empire Realty Investments, Inc., has acquired and managed approximately 5,000 units, 5 million square feet and 2,000 acres of retail, office, multi-family and residential properties throughout the metropolitan Philadelphia area and in 16 states across the country.

For more information about Empire Realty Investments, Inc., visit www.empirerealtyinvestment.com or call 215-232-5400.

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