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.

***

What’s your opinion? Send your Letter to the Editor to opinion@inman.com.

Show Comments Hide Comments

Comments

Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Success!
Thank you for subscribing to Morning Headlines.
Back to top
We're here to help. Free 90-day trial for new subscribers.Click Here×