GLEN BURNIE, MD—The Coves at Chesapeake townhome apartment community here has sold for $76.25 million.
The sale of the 469-unit community was announced by Transwestern's Mid-Atlantic Multifamily Group. Co-directors Dean Sigmon and Robin Williams represented the buyer and the seller in the transaction. The Bethesda, MD-based brokerage did not identify either.
"We are pleased to have completed this significant sale," says Sigmon. "It is a further indication of the strong investor demand for well-maintained and well-located apartment properties in the Washington-Baltimore region."
The property was a value-add opportunity, Transwestern states. The community is located in Anne Arundel County with easy access to Fort Meade, NSA headquarters, the Arundel Mills Mall, Maryland Live! Casino and BWI Airport.
The deal is the third in the past nine months in Anne Arundel County brokered by the Transwestern Multifamily Group.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.