​BETHESDA, MD. – Transwestern’s Bethesda, Maryland-based Mid-Atlantic Multifamily Group, led by Co-Directors Dean Sigmon and Robin Williams, today announces it brokered the sale of Regency Pointe apartments in Forestville, Maryland, for $56 million. Transwestern represented the seller, a joint venture between Angelo, Gordon & Co. and The Donaldson Group LLC, in the transaction. Turner Impact Capital LLC, a Los Angeles fund manager, purchased the 599-unit community.

“Regency Pointe offered a superior value-add opportunity,” said Williams. “This was an attractive opportunity for an investor to acquire a multifamily investment with significant upside potential through increasing rental revenue and by passing through utility costs.”

The garden-style property has been extremely well-maintained with more than $15 million invested in capital improvements. The new ownership has an opportunity to substantially increase rental revenue by continuing in-unit renovations and fully realizing the cost savings stemming from the recent utility conversion, along with initiating a pass-through of water/sewer expenses.

Located in the Joint Base Andrews region, the property provides excellent access to major employment centers with close proximity to the Capital Beltway, Suitland Parkway, Pennsylvania Avenue (MD-4) as well as nearby Largo, National Harbor and Downtown Washington, D.C.

ABOUT TRANSWESTERN
Transwestern is a privately held real estate firm specializing in agency leasing, property and facilities management, tenant advisory, capital markets, research and sustainability. The fully integrated global enterprise leverages competencies in office, industrial, retail, multifamily and healthcare properties to add value for investors, owners and occupiers of real estate. As a member of the Transwestern family of companies, the firm capitalizes on market insights and operational expertise of independent affiliates specializing in development, real estate investment management and research. Transwestern has 34 U.S. offices and assists clients through more than 180 offices in 37 countries as part of a strategic alliance with Paris-based BNP Paribas Real Estate. For more information, please visit transwestern.com and follow us on Twitter: @Transwestern.

 

 

Media Contact:
Sabina Gill
301.896.90569
sabina.gill@transwestern.com