TWO MARYLAND MULTIFAMILY COMPLEXES SOLD FOR $22 MILLION

by admin

WHEATON, MD. — A partnership between Arlington, Va.-based Abbey Road Property Group and Bethesda, Md.-based Buvermo Properties has purchased the 102-unit Westerly Park and the 97-unit Woodberry Park from affiliates of Fairfield Residential for $22 million. The 43-year-old properties, which received a $4.8 million renovation in 2007, are located at 2309 Shorefield Rd. in Wheaton. Fannie Mae provided funding for the purchase. Bill Roohan, Mike Muldowney, Andy Boyer, Michael Rudolph and Brian Margerum of CB Richard Ellis’ Washington, D.C., office brokered the sale.

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