Urban Investment Partners (UIP) and Criterion Holdings have acquired two Maryland apartment communities with a total of 385 units – Laurel Pines in Laurel and Country Club in Glen Burnie – for $39,340,000. An affiliate of New York City-based Starr International Company provided equity and is a limited partner in the new ownership group. The seller, represented by CBRE Mid-Atlantic Multifamily Investment Sales Team, was a partnership between Boston-based Intercontinental Real Estate and Sawyer Realty Holdings.
The Donaldson Group, Angelo Gordon Obtain Loan from Wells Fargo Following All-Cash Acquisition of 599-Unit MD Apartment Complex
The Donaldson Group (TDG) of Rockville, MD and New York-based Angelo, Gordon & Company (AG), have closed on acquisition and renovation financing for a 599-unit apartment community in Forestville, MD. Wells Fargo Bank, N.A. provided the loan. TDG and AG originally purchased the first mortgage on the property in May 2010 for $20 million in […]
THE DONALDSON GROUP AND ANGELO, GORDON ACQUIRE 459-UNIT APARTMENT COMMUNITY IN TEMPLE HILLS, MD FOR $38 MILLION
The Donaldson Group (TDG) of Rockville, MD and its equity partner, New York-based Angelo, Gordon & Company (AG), have acquired a 459-unit apartment community in Temple Hills, MD for $38 million in an all-cash transaction. The seller, Tarragon Corporation of New York City, sold the property as part of a reorganization following Chapter 11 bankruptcy […]