Richard Doetsch Acquires Multifamily Portfolio In MD & NC For $208M

The transaction involves the sale of a multifamily asset located at 12630 Veirs Mill Road, 6804 Central Avenue, 1418 Karen Boulevard, 6904 Seat Pleasant Drive, and 1400 Paige Ct. The properties, totaling 1,140 units, are spread across Rockville, Capitol Heights, and Hyattsville, MD, as well as Gastonia, NC. The purchase price for this portfolio was $208,000,000, with a price per unit of $182,456.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $208,000,000
• Units: 1,140
• Address: 12630 Veirs Mill Road, 6804 Central Avenue, 1418 Karen Boulevard, 6904 Seat Pleasant Drive, and 1400 Paige Ct
• Market: Rockville, Capitol Heights, Hyattsville, MD; Gastonia, NC

Hudson Valley Property Group (HVPG), based in New York, was the buyer in this transaction. The acquisition involved the purchase of a diverse portfolio of properties spanning multiple locations. Richard Doetsch represented HVPG in this significant real estate deal.