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Courtesy of Transwestern The Regency Pointe Apartments in Forestville, Maryland Transwestern brokered sales of the Montclair Apartment Homes property in Silver Spring and the Regency Pointe apartments in Forestville last week for a combined $139M, Bisnow can first report. Turner Impact Capital sold the 599-unit Regency Pointe property to Quantum Equities for $80M. The garden-style apartment community sits at 3253 Walters Lane in Forestville, roughly a mile inside the Beltway in Prince George s County. LCOR and Ares Management sold the 256-unit Montclair Apartment Homes property to Priderock Capital Partners for $58.7M. The property at 3525 Sheffield Manor Terrace is in northern Silver Spring, near the interchange of Columbia Pike and Route 200. ....
Vaccine Approval Could Mark a Turning Point in CRE Price Discovery Buyers hoping to capitalize on distress may only have a small window of time to strike as long-term prospects for troubled assets begins to brighten. Investors hoping to cash in on a COVID-19 pricing discounts may see opportunities slip away as emergency-use approval of the first vaccine against in the virus was granted to Pfizer and with availability expected to grow as other firms gain approvals in the coming weeks and months. The coming widespread distribution of vaccines could very well prove to be the long-awaited light at the end of the tunnel for some struggling assets. Many buyers in the market have been hoping to negotiate at least some COVID-19 discount on pricing, even a slight five percent to 10 percent discount based on weaker rent growth. “I think there could still be some deals made in that range, but the combination of the vaccine outlook combined with more and more active liq ....