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A 94-unit Hyattsville apartment complex has traded hands for $10.3M.
Baltimore-based Signature Properties bought the Courtyard Park apartments from Congressional Realty Group for about $105K per unit. Greysteel's Kyle Tangney, Herbert Schwat and Ari Azarbarzin brokered the deal.
CRG acquired the property for $7.3M in 2014 from a JV of Urban Investment Partners and Stonebridge Investments.
The seven-building apartment community at 4201-4213 Oglethorpe St. was built in 1948 and consists of four-story buildings. Courtyard Park is about one mile from the Prince George's Plaza Metro station, where the Macy's and Target-anchored mall sits across from the Regal Cinemas movie theater.
Just over a mile away, a new Whole Foods opened this spring at Cafritz Enterprises' Riverdale Park Station. The 16-mile Purple Line, which is still going through a legal battle, would have a stop at Riverdale Park.
“We were able to generate a tremendous amount of interest for the owner by highlighting the continuing development near the community including the promised Purple Line Metro Station, Prince George’s Plaza Transit District Development Plan and a newly delivered Whole Foods,” Tangney said in a release.
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