Mid Atlantic Real Estate Journal — Owners, Developers & Managers — October 25 - November 7, 2013 — 7B


O WNERS , D EVELOPERS & M ANAGERS Sale of a 29-unit apartment building Marcus & Millichap’s DC office brokers $1.575 million


RIANGLE, VA — Marcus & Millichap announced the sale of

Graham Park Apartments, a 29-unit apartment prop- erty located in Triangle. Bryn Merrey , the regional manager of the firm’s Wash- ington D.C. office, disclosed that the asset sold for $1.575 million. Investment specialists of the firm’s Washington D.C. office, Peggy Brooks Smith and Christopher Chad- wick represented an out-of- state private investor and listed the property to market. Smith and Chadwick secured a local limited liability com- pany as the buyer. Payton Banks acted as broker of record for the transaction. Graham Park Apartments is located at 18200-18209 Graham Court. The property has 28 one-bedroom units and one three-bedroom unit. The buyer plans on perform- ing a light rehab of the units and exterior property, in or- der to increase rents to mar- ket rates. At time of sale, the property held a mid-eighties occupancy rate. ■ Schlouch pre- pares site for Country Meadows NEWHANOVERTWP., PA — Schlouch Incorporated has been named by Paul Moy- er & Sons, Inc. to prepare the site for Country Meadows a 32-home residential subdi- vision. Country Meadows is located on Dotterer Rd., New Hanover Township, Montgom- ery County. Schlouch is providing clear- ing, grubbing, survey, stake- out, blasting, earthwork, sedi- ment/erosion control, sani- tary and storm sewers, roads, curbs, paving and seeding. As part of the project, Schlouch will construct eight under- ground basins. Steve Funk is Schlouch’s site coordinator and Marty “MJ” Weller III is project manager/estimator. Work will be completed in the Winter, 2013. Schlouch Incorporated spe- cializes in site design and site construction throughout Eastern Pennsylvania and surrounding states. ■

Graham Park Apartments

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