Transwestern Real Estate Services (TRS) announced that its Mid-Atlantic Multifamily Group has been retained to sell Queenstown Apartments, a 1,062-unit garden-style community in Mount Rainier, Maryland. Transwestern’s Dean Sigmon, Robin Williams, and Michael D’Amelio are marketing the Prince George’s County property on behalf of the owner, MidCity.
“Located in a Qualified Census Tract, the property provides a significant amount of naturally occurring affordability for low- and moderate-income renters, creating a rare opportunity to acquire a large multifamily community of this size in Prince George’s County and preserve high-quality workforce housing,” said Sigmon, TRS Executive Vice President.
Queenstown’s central location in the Mount Rainier/Hyattsville submarket, within walking distance to the West Hyattsville Metro Station, provides convenient access to East-West Highway, US Route 1, US-50, the I-95/I-495 Capital Beltway, and the Baltimore-Washington Parkway. “With strong in-place cash flow, excellent historical performance and upside potential, Queenstown presents multiple investment strategies to maximize returns,” said Williams, TRS Executive Vice President.
BLDG Management Co., Inc announced that The Orchard, Queens’ tallest tower, has surpassed 90% leased across its 824 residences nine months after launching residential leasing. The milestone occurs as the 70-story Long Island City development recently signed its first three retail tenants: K-beauty brand Tokimo, Japanese tea and beverage brand Mollytea and financial technology platform...
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Leyden Senior Apartments, a new four-story independent senior living development in Franklin Park, recently opened. Located at 2506 N. Mannheim Road, Leyden Senior Apartments offers one- and two-bedroom residences. The adjacent newly constructed Carl Fiorito Senior Center will be available to the entire community. Owned by Leyden Apartments LP, Leyden Senior Apartments was designed by...
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Northmarq’s Investment Sales team, led by Bobby Schiavone, Jordan Arand and Adam Klenk, led the sale of The Bend Apartments, a 312-unit garden apartment community located at 1909 Greentree Blvd. in Clarksville, Indiana. Northmarq represented the seller, a regional multifamily developer. The buyer was a private investor. “The Bend generated significant investor demand, further proving...
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