Urban Investment Partners (UIP) has acquired Walker House, a 212-unit mid-rise apartment building in Gaithersburg, MD, for $31.8 million. CBRE represented the seller, Washington REIT, which has held the property since 1996. Capital One financed the acquisition.
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 […]