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FOR IMMEDIATE RELEASE

Vanguard Realty Group's Investment Sales Team Resells

84-Unit Apartment Property in Frederick County, MD

Potomac, MD, August 23, 2011. . . . Rick Struse and Cullen O'Grady of Vanguard Realty Group's Investment Sales division have completed the resale of Chesterbrook Apartments, an 84-unit garden style apartment property located in Middletown, Frederick County, MD. The Investment Sales Team previously sold this property as the upleg of a 1031 exchange for the sellers in October of 2009. Although the property was intended as a long term hold for the sellers, current market demand for multifamily properties presented an opportunity to sell the asset. Rick and Cullen secured a highly capitalized private company to purchase the property. The property has been very well maintained over the years and has enjoyed a historically low vacancy rate.  Assumable and new secondary financing was provided by Fannie Mae. An adjacent parcel of land was also purchased, which will allow for future residential development.

About Vanguard Realty Group

Vanguard Realty Group, a locally owned and operated company, provides full service Leasing, Brokerage, Investment Sales, Property Management, Asset Management, Engineering & Energy Management, and Tax Consulting for commercial and multifamily properties in the mid-Atlantic region, with an emphasis on the National Capital area.  

 

For more information, visit www.vanguardrealty.com

Chesterbrook_Apts

Chesterbrook  Apartments

 

For more information contact: 

Cullen O'Grady: 301.795.1456

Rick Struse:

410.263.5214

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Vanguard Press Contact:

 Leslie Mazzocco 

 301.795.1458   

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