ABERDEEN, MD-A 60-unit apartment complex traded here for $58,750 per unit, or $3.5 million. The asset, Chapel Manor & Parke Terrace, was brokered by Spencer Yablon, Zachary S. Pierce, Mark Thomson and Carl Fiebig, from Marcus & Millichap's Philadelphia office, on behalf of the seller, a private investor. The buyer was a limited liability company, and was procured by Pierce, Thomson and Fiebig.

Chapel Manor, which consists of 12 units, is located at 320 S Parke Street. The 48-unit Parke Terrace is located across the street at 309 S. Parke St.

James Conley of Marcus & Millichap Capital Corporation secured Fannie Mae financing for the buyer, with terms that included a 79% LTV with a 10-year fixed interest rate of 4.39 percent, amortized over 30 years.

Now the team is working with the buyer to execute a 1031 tax deferred exchange, according to Fiebig. "The replacement property has already been identified," he said in a prepared statement. "The seller quickly switched roles and will now be purchasing an attractive net leased asset with no management responsibilities and predictable cash flow."