Potomac, MD, July 8, 2011. . . . Rick Struse and Cullen O'Grady of Vanguard Realty Group's Investment Sales Division have completed the sale of 2 multifamily properties in Montgomery County, Maryland. Roanoke Apartments, an 11-unit garden style apartment property, and Lee Avenue Apartments, a 37-unit garden style apartment property, are both located in Takoma Park. Rick and Cullen represented the lender as well as securing the buyers, two separate local investors, to complete the transactions. Vanguard Realty Group was selected to represent the lender who has a successful history of transactions with the Investment Sales Team at Vanguard. Last year, Rick and Cullen sold a 34-unit apartment property (Clarkview Apartments), as well as an 18 and 42 unit property (Groveland and Belvieu Apartments) for the same client. Multiple offers were submitted during a very quick and thorough marketing process. The properties were both in receivership and in stable condition at sale, with significant potential upside.
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