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FORESTVILLE, MD-A $53.6-million transaction has resulted in a change of ownership for Forest Creek, a 930-unit apartment community in Prince George's County. Miles Property acquired the multifamily property from the Artery Group, with Robin Williams of Ideal Realty Group orchestrating the deal as the sole broker.

The sale figure of $57,635 per unit surpassed the sale price for the one other apartment complex to sell in the city this year, which commanded nearly $52,900 per unit, according to Delta Associates' Mid-Year 2005 Report on the investment grade, class B apartment market.

Forest Creek occupies a 39-acre parcel off the Capital Beltway near the 470,000-sf Centre at Forestville regional shopping mall. Consisting of 69 garden-style brick structures, the property was developed in 1963 and renovated in 1982. The complex is divided into two phases, with the first accounting for 558 units and the second offering 372 units.