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Class A Multifamily Investment Sales
Class A Multifamily Investment Sales
Value-Add Multifamily Investment Sales
Class B Value-Add Multifamily Investment Sales

 

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THE COVES AT CHESAPEAKE
469-Townhome Units – Glen Burnie, MD
Exclusively represented a national REIT, Home Properties in this broadly marketed 469-unit Townhome community sale located in Glen Burnie, Maryland. This institutionally maintained community offered the ability for in-unit renovations to the remaining 300 units that had not been previously renovated with return on investment. The transaction marked the 3rd asset sold by Transwestern in less than a year in Anne Arundel County. The property was sold in March of 2015 to a private capital group based in Baltimore, Maryland for $76.25 Million or $162,580 per unit.

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SHELTER COVE
300-Units – Odenton, MD
Exclusive representation for the seller, Rieder Holdings LLC, in this widely marketing garden-style value-add opportunity located in the Baltimore-Washington, DC Corridor in Anne Arundel County, Maryland less than two-miles from Fort Meade. Built in 1974, the Property offered investors a strong value-add opportunity supported by existing interior renovations which received up to a $250 premium. Our extensive marketing campaign highlighted this superior value-add play to renovate the remaining 70% of the units which garnered significant interest. The Property was purchased The Goldstar Group, based in Bethesda, MD, for $43 million ($143,333 per unit).
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MIDDLE RIVER MULTIFAMILY PORTFOLIO
3 Properties Totaling 514-Units – Baltimore County, MD
Exclusive representation for the seller, the Posner Family, in this widely marketing portfolio opportunity providing a blend of repositioning and value-add opportunities in the Baltimore region. Built in the mid-1970’s, the Properties provided a mix a garden-style and townhome construction. The Properties included the Essex Park (229-units), Carroll Park (157-units) and Morningside Park (128-units). The Properties garnered significant interest as a portfolio as well as specific properties offering compelling “value-add” opportunities. Ultimately, the Properties were purchased as a portfolio, by a New York private equity group for $37.9 million ($73,735 per unit).).
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DC/MD BELTWAY  PORTFOLIO
5 Properties Totaling 1,188-Units – Suburban Maryland
Exclusive representation for the seller, a partnership between The Bozzuto Group and Fannie Mae, in this widely marketing portfolio opportunity providing a blend of repositioning and value-add opportunities in the Washington, DC Metro region. The Properties were built between 1950 and 1966 and consisted of both garden-style and mid-rise construction. The Properties included the Forest Village (410-units), Shadyside Garden (349-units), Marlow Heights (172-units), Marlow Tower (131-units) and Marlow Garden (126-units). The Properties garnered significant interest as a portfolio as well as specific properties offering compelling “value-add” opportunities. Ultimately, the Properties were purchased as a portfolio, by a New York private equity group for $88 million ($74,074 per unit).
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VIRGINIA VILLAGE
344-Units - Alexandria, VA
Exclusive representation for the seller, Home Properties, in this widely marketing garden-style value-add opportunity located in the I-395 corridor in Alexandria. Built in 1968, the Property has been institutionally-maintained for many years with significant high-cost capital improvements completed. Our extensive marketing campaign resulted in more than 100 signed confidentiality agreements from interested investors and 32 property tours which resulted in substantial initial offers and a large number of best & final offers to drive pricing. The Property was purchased by a New Jersey private equity group for $68 million ($197,674 per unit).
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WASHINGTON, DC / NORTHERN VA MULTIFAMILY PORTFOLIO
5 Properties Totaling 1,468-Units – Fairfax County, VA
Exclusive representation for the seller, Equity Residential, in this widely marketing portfolio opportunity providing a blend of core quality presence and value-add potential in highly sought after locations in Fairfax, Reston and Herndon, Virginia in Fairfax County. The Properties were built between 1984 and 2002 and consisted of both garden-style and townhome construction. The Properties included the Ellipse at Government Center (404-units), Windsor at Fair Lakes (250-units), Waterside (276-units), The Townes at Herndon Center (218-units) and Westerly at Worldgate (320-units). The Properties garnered significant institutional interest as a portfolio as well as specific properties offering compelling “value-add” opportunities.. The Properties were purchased as a portfolio, by a joint venture of Goldman, Sachs & Co. and Greystar Real Estate Partners, as part of a larger 27-property portfolio for $1.5 Billion. The approximate value for the 5-property portfolio is estimated at $350 million or $238,419 per unit.
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OAKWOOD GAITHERSBURG
136-Units - Gaithersburg, MD
Exclusive representation for the seller, Archstone, in this widely marketing luxury high-rise community location in the heart of the I-270 Tech Corridor in Montgomery County, MD. Built in 1989, the Property represented a unique transaction due to an in-place Master Lease with Oakwood, an industry leader in corporate housing, which operated the Property as a hybrid furnished/ unfurnished rental community. Throughout the process we worked closely with both the seller and master lease holder to ensure a smooth transaction which included the ability to procure an exemption from the Montgomery County Right of First Refusal process due to the intricacies of the in-place master lease. The Property closed in less than 120 days from our initial marketing. The Property was purchased by Bernstein Management Corporation for $31,300,000 ($230,147 per unit).
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FIRESIDE PARK
236-Units - Rockville, MD
Exclusive representation for the seller, Hampshire Properties, in this widely marketed value-add opportunity located within walking distance to Rockville Town Center and METRO. Built in 1961, the Property offered a unique park-like setting with an abundance of open green space. The Property was purchased by Rockville Housing, who exercised their Right of First Refusal, for $36,000,000 ($152,542 per unit).​
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GLENMONT CROSSING
199-Units - Wheaton, MD
Exclusive representation for the seller, Buvermo Investments and Abbey Road Development, in this widely marketed value-add opportunity which was subject to assumable Freddie Mac debt. Built in 1967, the Property is divided of distinct sections consisting of 102-units in 9 three-story garden-style buildings and 97-units in 10 two-and three-story townhome-style buildings averaging 814 SF and 1,158 SF respectively. The Property was purchased by the Housing Opportunities Commission of Montgomery County, who exercised their Right of First Refusal, for $27,900,000 ($140,201 per unit).
Class B Value-Add Multifamily Investment Sales

TIMBERCROFT TOWNHOMES
284-Units – Owings Mills, MD
Exclusive representation for the seller, Home Properties, in this widely marketed Affordable Housing opportunity subject to an existing project-based HAP contract. Built in 1971 and renovated in 2009, the property floor plans averaged 840 SF and consisted of a majority of two-bedroom townhomes. Throughout the process we worked closely with purchaser and the Baltimore HUD office to assist in dissolving LIPHRA existing debt structure. The Property was purchased by The Wishcamper Companies, Inc. and RMDG, Inc for $29,150,000 ($102,641 per unit).​​​

Class B Value-Add Multifamily Investment Sales THE VILLAS AT LANGLEY
590-Units - Hyattsville, MD
Exclusive representation for the seller, Sawyer Realty Holdings, in this widely marketed value-add opportunity which was subject to assumable Freddie Mac debt. Built in 1964, the garden-style community had been constructed with superior construction materials consisting of pitched roofs and brick veneer exterior to include balconies which offered a superior quality product compared with many of the neighboring apartment communities. The Property was purchased for $48,164,409 ($81,635 per unit).
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Class A Multifamily Investment Sales THE CHASE APARTMENTS AT BETHESDA METRO
122-Units - Bethesda, MD
Exclusive representation for the purchaser, Equity Residential, in this off-market transaction sold by a partnership between Rockwood Capital and ROSS Development & Investment. Built in 1989 and underwent substantial renovations in 2007 this Class "A" High-Rise community offers a core location within walking distance to METRO in one of the Washington regions most affluent communities. The Property was purchased for $57,000,000 ($467,213 per unit).
Class A Multifamily Investment Sales TANGLEWOOD
432-Units – Manassas, VA
Exclusive representation for the seller, Equity Residential, in this widely marketed value-add opportunity. Built in 1987, the garden-style community had been extremely well maintained with significant capital improvements to the exterior of the Property. The original unit interiors provided the purchaser a compelling opportunity to complete an in-unit renovation program. The Property was purchased for $68,725,000 ($159,086 per unit).
Class A Multifamily Investment Sales SOMERSET PARK
108-Units – Leesburg, VA
Exclusive representation for the seller, Arcadia Builders, this boutique luxury garden-style community was originally built as a condominium community in late 2006 and operated as apartments since completion. With floor plans averaging 1,022 square feet, the Property garnered significant interest from both local and national investors and the entire marketing process was completed in approximately 90 days. The Property was purchased for $20,250,000 ($187,500 per unit) by Home Properties.
Class B Value-Add Multifamily Investment Sales UNITED INVESTORS PORTFOLIO
1,107 Units – Prince George’s County, MD
Exclusive representation for the seller, the Portfolio offered a rare opportunity to acquire from the original builder a critical mass of 4 properties totaling 1,107 units. Built in the 1960’s the portfolio totaled nearly 1 million square feet of rentable space located in two distinct submarkets – Cheverly/Landover and Forestville/Suitland in Prince George’s County, Maryland. The Portfolio was purchased by a joint venture between Foulger-Pratt Companies and DLJ Real Estate Capital Partners.
Class B Value-Add Multifamily Investment Sales PINEWOOD CHASE
492-Units – Suitland, MD
Exclusive representation for the seller, Lightstone Group, this garden-style community was originally built in 1965 and is divided into two sections and was distressed at the time of sale with approximately 20% vacancy. The Property was purchased for $27,420,949 ($55,734 per unit) by a joint venture between The Donaldson Group and Angelo, Gordon & Co. who are planning $12 million in renovations.
Class A Multifamily Investment Sales METROPOLITAN AT LARGO STATION
242-Units – Largo, MD
Exclusive representation for the seller, Kettler, this 4-story elevator served apartment community was built in 2008. The Property offers a strong amenity package and a variety of floor plans which include washers and dryers. The Property was purchased for $47,000,000 ($192,215 per unit) by Equity Residential.
Class A Multifamily Investment Sales LIGHTHOUSE AT TWIN LAKES
700-Units – Beltsville, MD
Exclusive representation for the seller, AIMCO, this 700-unit apartment community built in 1968 consists of a mix of garden-style apartments and an 8-story mid-rise building. Located on two lakes, the Property offers a unique setting and a strong amenity package. The Property was purchased for $57,000,000 ($81,429 per unit) by Hampshire Properties.
Class B Value-Add Multifamily Investment Sales SPRINGHILL LAKE
2,877-Units – Greenbelt, MD
Exclusive representation for the seller, AIMCO, this 2,877-unit apartment community was completed in 1969 and is situated on more than 155 acres. Marketed as a potential redevelopment opportunity and value-add play, the Property was purchased for $275,000,000 ($95,586 per unit) by Empire Equity Group.
Class A Multifamily Investment Sales ARCHSTONE GOVERNOR’S GREEN
478-Units – Bowie, MD
Exclusive representation for the seller, Archstone, this 478-unit apartment community was built in 1999. The Property was purchased for $93,000,000 ($194,560 per unit) by Equity Residential.
 

 

 

 

 

 

 
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