BETHESDA, MD – Transwestern Commercial Services (TCS) today announces its Mid-Atlantic Multifamily Group executed the sale of five multifamily communities in December, totaling $235 million. Those sales pushed the team’s total volume for 2019 to over $650 million and reflects 3,765 apartment units, including recent deals for Westchester Tower Apartment Homes in College Park, Maryland; The Marque at Heritage Hunt in Gainesville, Virginia; Kenley Square in Hagerstown, Maryland; and Goodwill Terrace in Astoria, New York. The team includes Co-Directors Dean Sigmon and Robin Williams, along with Vice President Justin Shay and Analyst Michael D’Amelio.
“We’re expecting to see stable and even further compressed capitalization rates for value-add multifamily investment opportunities in 2020,” said Sigmon. “There continues to be a lack of available product to meet the investor demands in this space.”
According to Delta Associates’ Year-End Class B Apartment Report, rent growth continues to increase for Class B product in Washington, D.C., outperforming markets in Northern Virginia and Suburban Maryland. The District recorded its largest year-over-year gains at 7.4%, while also posting strong vacancy reductions at 40 basis points.
“We steadily see new investors enter our market who have lowered their return requirements in order to win deals,” said Williams. “The amount of available equity and increased focus on workforce housing has created a shortage of available buying opportunities.”
The Transwestern Mid-Atlantic Multifamily group provides a full-range of Investment Sales Services for the Multifamily Industry throughout the entire Mid-Atlantic Region including Philadelphia, Delaware, Baltimore, Washington, DC, Northern Virginia, Richmond and Hampton Roads. Transwestern’s Mid-Atlantic Multifamily Group provides a fully-integrated platform and collaborative multifamily brokerage team serving the entire Mid-Atlantic region. Recent assignments include transactions with Sentinel Real Estate, Aimco, Avalon Bay, Equity Residential and Fannie Mae. For more information on the Multifamily Group, please visit www.twMidAtlanticMultifamily.com.
ABOUT TRANSWESTERN COMMERCIAL SERVICES
Transwestern Commercial Services (TCS) is a privately held real estate firm of collaborative entrepreneurs who deliver a higher level of personalized service and innovative client solutions. Applying a consultative approach to Agency Leasing, Asset Services, Occupier Solutions, Capital Markets and Research, our fully integrated global organization adds value for investors, owners and occupiers of all commercial property types. We leverage market insight and operational expertise from across the Transwestern enterprise, which includes firms specializing in development and real estate investment management. TCS has 34 U.S. offices and assists clients from more than 200 offices in 37 countries through strategic alliances with France-based BNP Paribas Real Estate and Canada-based Devencore. Experience Extraordinary at transwestern.com and @Transwestern.
Media Contact:
Hannah Krobock
301.896.9135
hannah.krobock@transwestern.com
twmediarelations@transwestern.com
