(To read more on the multifamily market, click here.)
LANDOVER, MD-NOVO Development, a local developer, has closed ona Section 8 multifamily property here with the intention of takingit market rate. Located at 3691 64 Ave. in Landover Hills, NOVOacquired the 60-unit, six-story Capital Towers asset for $2.9million.
Rick Struse and Cullen Kilbane O'Grady, associates in Marcus& Millichap's National Multi Housing Group, represented theseller, a local owner who was not disclosed.
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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.
