Regatta Bay units sell in Maryland

Transwestern Commercial Services announced that its Institutional Multifamily Group recently brokered the sale of Regatta Bay Apartments in Annapolis, Md.

The value of the transaction was $49 million.

Regatta Bay Apartments is a 245-unit community that features a clubhouse with fireplace, swimming pool, hot tub, fitness center, business center and conference room.

Donatelli & Klein Inc., a privately owned corporation, sold the property to Stellar Advisors, which plans to convert the property to condominiums, according to a press statement.

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