GREENBELT, MD—A source tells GlobeSt.com that GlenOaks, a 463-unit apartment building here is trading for$73.5 million, or $158,747 perunit, to BE Glen Oaks LLC, a limited liability companyformed in October 2014 in Delaware.

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Located at 7509 Mandan Rd., the building delivered in 1979 andwas renovated in 2007.

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The seller is a joint venture between RossDevelopment and Investment andRockwood Capital.

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At one time the property was included in a seven-assetportfolio. In 2007 the then-Sonnenblick Goldman arranged a $346million loan for the 2,509-unit portfolio which also included Parkat Landmark in Alexandria, VA; the Summerlyn Place in Laurel, MD.;Cypress Creek in Hyattsville, MD.; and Cambridge Crossing, SuttonWalk and Lenox Court in New Carrollton, MD.

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The owners had plans for a $46 million capital improvementprogram at that time.

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