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Crystal Park At Waterford Closes At $44M

The apartment complex is part of a portfolio that KBS Legacy Partners put up for sale last year.

Crystal Park At Waterford

FREDERICK, MD–Crystal Park At Waterford has traded for $44.4 million to Elite Street Capital, a Houston, Texas-based firm. The seller of the 314-unit garden property was KBS Legacy Partners Apartment REIT.

KBS had put Crystal Park At Waterford along with several other properties on the market last year, striking a deal with Elite to purchase all of them. All together Elite had agreed to pay $218.9 million for the 1,273 unit portfolio, or $171,956 per unit.

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Erika Morphy

Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

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