"We sold the property to Bozzuto and Fannie Me for $32 million two years ago," Robin Williams, senior vice president with IRG, tells GlobeSt.com. Bozzuto and Fannie Mae later relied on Bozzuto Construction for a $6 million renovation of the apartment community. Now, following the disposition, the partnership is left with a tidy $9.5 million return on its investment. IRG was the sole brokerage firm involved in the transaction.

Located on a nearly four-acre parcel along Rte. 450, Coopers Crossing was developed back in 1966 and consists of multiple low-rise structures, as well as a playground and the requisite swimming pool. Residential properties like Coopers Crossing are in great demand these days. According to Delta Associates' Mid-Year 2004 Report on the investment grade, class B apartment market, the vacancy rate in Landover is at a mere 1%.

The timing of the partnership's sale was just right given the fact that the property had stabilized at a much higher rent base, and that the demand for apartment properties remains strong. As for concrete interest among potential investors in Coopers Crossing, "I showed it 25 times," Williams says.