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WASHINGTON, DC-Two multifamily properties have traded in the greater Washington area in separate transactions for an approximate aggregate of $126 million. They are: Sherwood Crossing, a 634-unit rental apartment community at 6731 Old Waterloo Rd. in Elkridge, MD, for approximately $72 million; and Riverside Station Apartments, a 304-unit luxury multi-housing community in Woodbridge, VA., for $54 million.

While there are unique elements to both deals–one of which was negotiated several months ago–they do illustrate that cap rates continue to drop for multifamily transactions.

 

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