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Eastern Equity Arranges $12M in Acquisition Equity for 320-Unit Community in Metro D.C.

The Hanover Apartments in Greenbelt, Md. consists of 320 units.

The Hanover Apartments in Greenbelt, Md. consists of 320 units.

GREENBELT, MD. — Eastern Equity Advisors has arranged $12 million in equity on behalf of Blue Ocean Realty, a Maryland-based management company, for the acquisition of The Hanover Apartments, with securities offered through Palladium Capital Advisors. Located at 7232 Hanover Parkway in Greenbelt, Md., a northeastern suburb of Washington, D.C., the garden-style property has 320 units. Marc Belsky of Eastern Equity arranged the equity. Meridian Capital sourced an undisclosed amount of financing from Capital One for the transaction. The purchase price was not disclosed.

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