Harbor Group International has closed on the sale of an apartment community in Greenbelt, Maryland, to Blue Ocean Realty for $49.6 million. Located at 7232 Hanover Parkway, the 320 unit community changed hands for $155,000 per unit. The complex near both the Greenbelt and New Carrollton Metro Stations, not far from two potential sites of a planned new FBI headquarter building for 11,000 employees. Transwestern’s Mid-Atlantic Multifamily Group, led by Co-Directors Dean Sigmon and Robin Williams, brokered the transaction on behalf of the seller. “The Hanover is a strategic purchase by Blue Ocean Realty, as the Greenbelt market is supply-constrained for multifamily product,” said Williams. “Additionally, there is upside potential to increase rental revenue by completing renovations on approximately 250 remaining units.”
