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ODENTON, MD-Two luxury apartment communities have sold for $55 million in a deal brokered by Bethesda, MD’s Transwestern Multifamily Group (TMG), a division of Transwestern Commercial Services. Englewood, Colorado-based Archstone Communities purchased the 278-unit Cambridge Commons and the 264-unit Saybrooke Commons from The Halle Companies of Silver Spring, MD.

“Multifamily in this region is at the top of the list for the investment community,” TMG Senior Vice President Al Cissel says in a press release. “Saybrooke Commons and Cambridge Commons are both well positioned and will benefit from a market where rental rates increased 5.9% for the year ending Sept 30, 2001, and employment growth is steady.” Both garden-style properties are part of Anne Arundel County’s Seven Oaks planned community.

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