​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 The Coves at Chesapeake apartments in Glen Burnie, Maryland, for $76.25 million. The group represented both the buyer and seller in the transaction.

“We are pleased to have completed this significant sale,” said Sigmon. “It is a further indication of the strong investor demand for well-maintained and well-located apartment properties in the Washington-Baltimore region.”

The 469-unit, townhome-style community was a value-add opportunity. It is ideally situated in the Baltimore-Washington, D.C. corridor in Anne Arundel County, Maryland. It provides excellent access to some of the region’s largest employers, including Fort Meade, NSA Headquarters, Arundel Mills Mall, Maryland Live! Casino and BWI Airport, as well as convenient proximity to all major regional travel corridors.

This is the Mid-Atlantic Multifamily Group’s third sale in the past nine months in Anne Arundel County.

ABOUT MID-ATLANTIC MULTIFAMILY GROUP
The Transwestern Mid-Atlantic Multifamily group provides a full range of Investment Sales services for the multifamily industry throughout the entire Mid-Atlantic region including Philadelphia, Delaware, Baltimore, Washington, D.C., Northern Virginia, Richmond and Hampton Roads. Recent assignments include transactions with Equity Residential, Home Properties, Bozzuto Group, Fannie Mae, AIG Investment, Morgan Properties, Goldman Sachs, JP Morgan and Angelo Gordon. For more information on the Multifamily Group, please visit www.twMidAtlanticMultifamily.com.

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