Mid-Atlantic
Greystone Arranges $69M for MD Property
Brokers Dan Sacks and Eric Rosenstock of the company’s New York CIty office originated the Fannie Mae DUS loan for the purchase of a 486-unit community in Lanham.
Sage Management Adds 687 Units in MD
The company paid $113 million for two properties in the D.C. and Baltimore metros. The communities will be owner-managed and will receive amenity improvements and various renovations.
DC Apartment Community Trades for $42M
The new owner, Urban Investment Partners, is planning to implement a $1 million capital improvements plan to upgrade and renovate the asset located at 3333 Wisconsin Ave.
HFF Arranges $70M Sale of MD Community
The company procured Bridge Investment Group as a buyer for Silver Spring-based Spring Parc, which includes 399 units.
Luxury Rentals Take a Hit in Richmond
As the majority of new stock is upscale, the metro’s multifamily rent growth decelerated in the first few months of 2018, falling behind the national average.
CIM Group Makes DC Mixed-Use Purchase
Trellis House is a newly constructed property in the city’s Shaw/U Street Corridor with 319 units and 11,000 square feet of ground-floor retail.
Marcus & Millichap Brokers Sale of 2 WV Properties
The communities are situated north of central Morgantown and have a combined 409 units in 29 individual buildings.
Broadtree Acquires $138M Portfolio
The company purchased 1901 S. Charles and 2 E. Wells in Baltimore, as well as The Overlook in Camp Hill, Pa. After closing, Broadtree now has a property base of nearly $350 million.
Torchlight Investors, Hampshire Properties Snag MD Asset
Milestone Apartments has 576 units in 27 buildings spread across 32 acres of land. The new owners are planning a value-add strategy that will include various upgrades.
Novare, Mulberry Development Kicks Off VA Community
The 302-unit, transit-oriented Cameron Park will be located in the West End of Alexandria, near the Van Dorn Metro Station.