(To read more on the multifamily market, click here.)

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.

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