HFF announces $87.75 million sale of Maryland apartment community

Rolling Hills Apartments, 19228 Circle Gate Drive,
 Germantown, MD (photo by Nick Waring)
,

Walter Coker

 WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announces the $87.75 million sale of Rolling Hills, a 468-unit apartment community in Germantown, Maryland.

The HFF team marketed the property exclusively on behalf of the seller, Clark Enterprises, Inc., and procured the buyer, Pantzer Properties, Inc. 

In addition, the HFF team acted as agent for Pantzer by securing debt financing through Freddie Mac.  The securitized loan will be serviced by HFF, a Freddie Mac Multifamily Approved Seller/Servicer for Conventional Loans.

Rolling Hills is located at 19228 Circle Gate Drive approximately one mile from Interstate 270 and adjacent to Great Seneca Highway, which offers connectivity to Rockville, Bethesda and Washington, D.C. to the south and Urbana and Frederick to the north. 

Brian Crivella

The commuter-friendly property is also adjacent to a MARC train station (Brunswick Line) and just north of the Shady Grove Metro Station, which together offer access to the broader Washington, D.C. metropolitan area. 

 Rolling Hills consists of 39 three-story buildings comprising a mix of two- and three-bedroom units averaging 1,205 square feet.  

The 40-acre, park-like community features a resort-style pool, fitness center and renovated club room as well as numerous tot lots, dog parks, soccer fields and picnic/grilling areas.

The HFF investment advisory team representing the seller included Walter Coker, Brian Crivella and Stephen Conley, a Maryland licensed real estate broker.

Nicole Brickhouse

HFF’s debt placement team representing the new owner consisted of Jamie Leachman and Nicole Brickhouse.

.Clark Enterprises, Inc. (CEI) is a diversified investment company based in Bethesda, Maryland.  CEI has been an active real estate investor since its inception in 1972, growing its real estate portfolio to approximately $1 billion of CEI equity value.  

Jamie Leachman

The CEI portfolio is primarily located in the Washington, D.C. area and includes stabilized assets and development projects across multiple product types, including office, residential and hotel.  For further information, please visit http://www.clarkenterprises.com/.

Pantzer Properties, Inc. is a vertically integrated owner/operator of multifamily assets on the east coast of the United States.  

Pantzer’s approximately 12,900-unit portfolio of 40 properties extends from the greater Boston to Washington, D.C. metro area.  

The firm was founded in 1971 and is headquartered in New York City with offices in New Jersey, Philadelphia and Northern Virginia.  Further information is available athttp://www.pantzerproperties.com/.

 For more information, please contact:

OLIVIA HENNESSEY

HFF Public Relations Specialist

(713) 852-3500