MANASSAS, VA–Dean Sigmon and Robin Williams of Transwestern's Mid-Atlantic Multifamily Group have been retained to sell Chatsworth Park, a 576 apartment home complex located at 8100 Chatsworth Dr. The property is valued at more than $100 million. “Chatsworth Park offers investors a great value-add opportunity to renovate a rare 2001 vintage asset with original interior finishes and great in-place amenities,” Sigmon says.

LANDOVER, MD–Mark Glagola of Transwestern's Mid-Atlantic Capital Markets Group has been retained by Wells Fargo to sell Metro Plex, two buildings totaling 293,108 square feet and a 3.65-acre development pad that are located at 8201 – 8401 Corporate Dr. “This is an excellent value-add investment in Washington, D.C., near a Metro station with significant development potential for a mixed-use product,” Glagola said.

OCEAN CITY, MD–Hyatt Hotel, PRBR Hospitality Group and TKo Hospitality Management held a groundbreaking for the Hyatt Place Oceanfront, located on the Ocean City Boardwalk. This is the first Hyatt Hotel in Ocean City and is scheduled to open in early Spring 2018. Locally-based PRBR Hospitality Group is the hotel's owner. The development team includes Keith Fisher of Fisher Architecture and David Harkins of Harkins Contracting.

WASHINGTON, DC–Rockwood Capital has selected NGKF as the office leasing agent for the Watergate office building at 2600 Virginia Ave, N.W. The property currently has 37,392 square feet available for lease. NGKF's Brendan Owen, Rafael Notario and Morgan Monroe will handle the account. Rockwood acquired the iconic property at the end of last year for around $75 million.

NORFOLK, VA–S. L. Nusbaum Realty Co. will be managing three more apartment buildings for Armada Hoffler Properties, bringing the total number of units it manages for the REIT and its affiliates to 1,200. The three apartments are the 342-unit Cosmopolitan Apartments at Virginia Beach, VA, Town Center Phase IV, a 130-unit project under development, also in Virginia Beach, and the 416-unit Residences at Annapolis Junction in Annapolis Junction, MD.

NEWS & NOTABLES

WASHINGTON, DC–Clint F. Mann, a former Executive Vice President at McWilliams|Ballard, has been named president of Urban Pace. He joins as the company is expanding in the region following its acquisition by Long & Foster last year. “We are positioned for huge growth and Clint will be instrumental in managing our expansion both here in DC and outside of the region,” Urban Pace Founder Lynn Hackney said in a prepared statement.

DEAL TRACKER

GAITHERSBURG, MD–Post Community Media has sold a 57,950-square-foot office/warehouse building to Country Realty Co. for $5.5 million. Transwestern's Guy Copperthite and Jim Darby represented the seller and Jack Alexander of AMR Commercial represented Country Realty. The new owners plan to retrofit the building into an automotive service center according to Darby. “This asset received tremendous attention from a variety of users due to the flexible zoning…”, he said. The property is located at 9030 Comprint Ct.

MANASSAS, VA–Dean Sigmon and Robin Williams of Transwestern's Mid-Atlantic Multifamily Group have been retained to sell Chatsworth Park, a 576 apartment home complex located at 8100 Chatsworth Dr. The property is valued at more than $100 million. “Chatsworth Park offers investors a great value-add opportunity to renovate a rare 2001 vintage asset with original interior finishes and great in-place amenities,” Sigmon says.

LANDOVER, MD–Mark Glagola of Transwestern's Mid-Atlantic Capital Markets Group has been retained by Wells Fargo to sell Metro Plex, two buildings totaling 293,108 square feet and a 3.65-acre development pad that are located at 8201 – 8401 Corporate Dr. “This is an excellent value-add investment in Washington, D.C., near a Metro station with significant development potential for a mixed-use product,” Glagola said.

OCEAN CITY, MD–Hyatt Hotel, PRBR Hospitality Group and TKo Hospitality Management held a groundbreaking for the Hyatt Place Oceanfront, located on the Ocean City Boardwalk. This is the first Hyatt Hotel in Ocean City and is scheduled to open in early Spring 2018. Locally-based PRBR Hospitality Group is the hotel's owner. The development team includes Keith Fisher of Fisher Architecture and David Harkins of Harkins Contracting.

WASHINGTON, DC–Rockwood Capital has selected NGKF as the office leasing agent for the Watergate office building at 2600 Virginia Ave, N.W. The property currently has 37,392 square feet available for lease. NGKF's Brendan Owen, Rafael Notario and Morgan Monroe will handle the account. Rockwood acquired the iconic property at the end of last year for around $75 million.

NORFOLK, VA–S. L. Nusbaum Realty Co. will be managing three more apartment buildings for Armada Hoffler Properties, bringing the total number of units it manages for the REIT and its affiliates to 1,200. The three apartments are the 342-unit Cosmopolitan Apartments at Virginia Beach, VA, Town Center Phase IV, a 130-unit project under development, also in Virginia Beach, and the 416-unit Residences at Annapolis Junction in Annapolis Junction, MD.