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PRP Buys Germantown Apartment for $70M in Value-Add Play

WASHINGTON, DC-The company plans to make some $3.5 million in renovations to the property.

By Erika Morphy | Updated on October 25, 2016
The Park at Kingsview Village The Park at Kingsview Village

WASHINGTON, DC–Earlier this month locally-based PRP acquired The Park at Kingsview Village, a 326-unit apartment complex in Germantown’s Kingsview submarket from TA Associates Realty in Boston.   PRP paid $70.4 million, or $215, 951 per unit, for the complex.

TA Realty acquired the apartment complex in August 2011 for $78.1 million.

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