Transwestern Brokers Value-Add Multifamily Sale in Prince Georges County
March 07, 2022
Washington – Transwestern Real Estate Services (TRS) announces its Mid-Atlantic Multifamily Group has brokered the sale of Heather Hill, a 459-unit, garden-style apartment community at 5837 Fisher Road in Temple Hills, Maryland. Hampshire Properties sold the value-add asset to OneWall Communities for an undisclosed price. Transwestern’s Dean Sigmon, Robin Williams, Justin Shay, and Michael D’Amelio brokered the transaction on behalf of the buyer and seller.
“Heather Hill is a strategic purchase by OneWall Communities and its partners, as the immediate submarket is supply-constrained for multifamily product,” said Sigmon. “The investment offers substantial upside fundamentals through interior unit renovations and additional amenity enhancements that have proven to drive up rents in the submarket.”
Heather Hill benefits from multiple commuting options to major employment centers via onsite WMATA bus service, and the Capital Beltway and I-295, which offer convenient access to Northern Virginia, Maryland and downtown Washington, D.C. The property boasts spacious floorplans, averaging 900 square feet, and desirable amenities, such as a freestanding clubhouse, Olympic-size swimming pool, fitness and yoga center, sport court and playground.
“Our team is one of the most active in Prince George’s County, which allows us to quickly identify and engage a wide pool of local, national and international investment groups that are attracted to value-add opportunities like Heather Hill,” said Williams.
Over the past 14 months, the Mid-Atlantic region has completed nearly $700 million in multifamily transactions, including more than $400 million in and around Prince George’s County.
Transwestern’s Mid-Atlantic Multifamily Group provides a full range of investment sales services throughout Maryland, Washington, D.C., Virginia and Delaware. The group’s recent client roster includes Sentinel Real Estate, Federal Capital Partners, Foulger-Pratt with DLJ, Hampshire Properties, Aimco, Avalon Bay, Equity Residential, The Bozzuto Group, Fannie Mae, AIG Investment, Morgan Properties, Goldman Sachs, JP Morgan and Angelo Gordon.
About Transwestern Real Estate Services
Transwestern Real Estate Services (TRS) adds value for investors, owners and occupiers of all commercial property types through a comprehensive perspective and by providing solutions grounded in sound market intelligence. Part of the Transwestern companies, the firm applies a consultative approach to Agency Leasing, Asset Services, Tenant Advisory + Workplace Solutions, Capital Markets, and Research & Investment Analytics.
The privately held Transwestern companies have been delivering a higher level of personalized service and innovative real estate solutions since 1978. Through an integrated, customized approach that begins with good ideas, the firm drives value for clients across commercial real estate services, development, and investment management. Operating from 33 U.S. offices, Transwestern extends its platform capabilities globally through strategic alliance partners whose unique geographic, cultural, and business expertise fuels creative solutions. Learn more at transwestern.com and @Transwestern.