Transwestern’s Bethesda, Maryland based Mid-Atlantic Multifamily Group today announced it arranged the sale of Tanglewood Apartments, a 432-unit garden-style apartment community located in the Bull Run area of Manassas, Virginia in Prince William County.

Transwestern’s Mid-Atlantic Multifamily Group, led by Co-Directors Dean Sigmon and Robin Williams, represented the seller, Equity Residential. The property was purchased for $68,725,000 ($159,086 per unit) by a New York advisory firm representing a pension fund.

Tanglewood Apartments was built in 1987 and offers residences averaging 856 square feet with one and two bedroom floor-plans. The interior units include the original European-style laminate kitchen cabinets and in-unit washers & dryers. Community amenities include a furnished clubhouse, fitness center, tennis courts, playground, jogging trails and a resort-style pool with sundeck.

Tanglewood enjoys excellent roadside frontage along Sudley Manor Road, just a short distance from VA-234 (Prince William Parkway), Sudley Road and the Festival at Bull Run shopping center. The surrounding area is home to more than 3.3 million square feet of retail as well as a dynamic employment base, including Lockheed Martin, BAE Systems and George Mason University, which anchors Innovation Technology Park, a university-centered corporate research park. Close proximity to Interstate-66 provides convenient access to neighboring Fairfax County, Dulles International Airport and Washington, D.C.

According to the 3rd Quarter Class B Apartment Report of Transwestern’s research affiliate, Delta Associates, the Washington Metro Area continues to be the best performing apartment market in the nation. Stabilized vacancy for Class B apartments in the Washington region currently stand at 1.5%, while in the prior 12 months ending September 2011, rents had risen 3.8%. Rent growth for Class B garden apartments in Northern Virginia was 4.8% during this same time period.

About Mid-Atlantic Multifamily Group
With offices serving the Washington, D.C. region, Baltimore, Northern Virginia and the Tidewater, Virginia region, Transwestern’s Mid-Atlantic Multifamily Group is the only fully-integrated, collaborative multifamily brokerage team serving the entire Mid-Atlantic region.  Recent assignments include transactions with Home Properties, JP Morgan, Federal Capital Partners, Angelo Gordon, Equity Residential, and i-star Financial. For more information on the Multifamily Group, please visit http://www.twmidatlanticmultifamily.com/.

About TRANSWESTERN
Transwestern is a national, privately-held operating company specializing in commercial real estate services, investment and development.  The firm’s fully integrated approach delivers value to owners, investors and users of commercial real estate through innovation, penetrating market intelligence and legendary service delivered by teams of local experts.  Transwestern has product specialties in office, industrial, retail, multifamily and healthcare and is an industry leader in sustainability solutions and in market research through its affiliate, Delta Associates.