February 27, 2020
Signature Properties has acquired The South Pointe, a 390-unit multifamily property in Temple Hills, MD. The sales price was $48.3 million.
Located at 2603 Southern Ave., the property was built in the late 1940s and is located on the Maryland side of the D.C. border. The property is nearby the Southern Avenue and Naylor Road Metro stations.
Scott Melnick of Melnick Real Estate advisors brokered the sale of the community on behalf of the seller, The Kohn family, a private investor based in Montreal.
The deal is the latest in a string of investments in workforce housing properties along the D.C.-Maryland border.
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