Potomac, MD, December 7, 2010……Rick Struse and Cullen O’Grady of Vanguard Realty Group’s Investment Sales Division have completed the sale of Groveland and Belvieu Gardens Apartments, 18-unit and 42-unit garden style apartment properties located in Baltimore City.  Rick and Cullen represented the lender as well as securing the buyer, a local investment group, to complete the transaction.  Vanguard Realty Group was selected to represent the seller, a repeat client. Multiple offers were submitted during a very quick and thorough marketing process. The properties were approximately 100% vacant at sale, with significant rehabilitation needed.  Earlier this year, Rick and Cullen sold a 34-unit apartment property, Clarkview Apartments, for the same client, and recently placed 2 additional multifamily properties under contract for this client in Takoma Park, MD, totaling 48 units.

Contact Cullen O’Grady 301.795.1456 or Rick Struse 410.263.5214 for more information.

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