FREDERICK, MD–Crystal Park At Waterford hastraded for $44.4 million to Elite Street Capital,a Houston, Texas-based firm. The seller of the 314-unit gardenproperty was KBS Legacy Partners ApartmentREIT.

KBS had put Crystal Park At Waterford along with several otherproperties on the market last year, striking a deal with Elite topurchase all of them. All together Elite had agreed to pay $218.9million for the 1,273 unit portfolio, or $171,956 per unit.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

Multifamily
Washington, DC