Eaves of Gaithersburg, Maryland

March 3, 2017 Comments Off on AvalonBay Sells 684 Units for $117M Views: 475 Maryland, National News, Northeast

AvalonBay Sells 684 Units for $117M

AvalonBay Communities sold the 684-unit Eaves of Gaithersburg, located in Gaithersburg, MD. The selling REIT collected $117 million from buyer Orlo for the asset at 750 Clopper Rd. Dean Sigmon and Robin Williams with Transwestern represented the seller.

According to Transwestern, the complex attracted a great deal of interest, as job growth in the Washington D.C. metro has improved. Transwestern’s research department indicated that a net total of 65,500 jobs were added to the metro during the 12 months ending November 2016.

“The property offered a rare, sizeable multifamily opportunity to improve rent growth through more accretive interior renovations and amenity enhancements,” Sigmon said.

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