Monument Village at College Park.
COLLEGE PARK, MD – JLL Capital Markets has completed the sale of a class-A, mixed-use property in College Park, MD for $62.7 million.
The multifamily and retail asset, Monument Village at College Park, was acquired from Monument Realty, by Foulger-Pratt.
Completed in 2016, Monument Village at College Park consists of 4,800 square feet of ground-floor retail, 12,200 square feet of amenity space and 235 residential units, which average 894 square feet. The property features community amenities such as a resort-style pool, an outdoor grilling area, a fitness center with yoga and spin studios, a Zen garden, a clubroom, a catering kitchen, a movie theater, a gaming room and snack bar, a conference room, a lounge with computer workstations, a coffee bar, pet spa and dog run.
Situated along Route 1, the mixed-use property is located near the intersection of Baltimore Avenue and Cherokee Street.
JLL marketed the property on behalf of Monument Realty. The JLL Capital Markets team of Walter Coker, Brian Crivella and Robert Jenkins represented the seller in the transaction.
JLL Capital Markets is a full-service, global provider of capital solutions for real estate investors and occupiers. Offering investment advisory, debt placement, equity placement or recapitalization solutions to clients, the firm employs more than 3,700 capital market specialists worldwide, with offices in nearly 50 countries.
Specializing in real estate and investment management, JLL is professional services firm with an annual revenue of $18 billion. The Fortune 500 company currently operates in more than 80 countries, with a global workforce of more than 93,000.
Founded in 1998, Monument Realty is a full-service real estate firm, with a development portfolio of more than six million square feet of class-A office space, 4,500 residential units and numerous hotel properties valued at nearly $6 billion.
Fouler-Pratt, established in 1963, is a real estate investment and development firm, which has developed more than 15 million square feet of commercial office, multifamily and retail projects.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
