The Seller was an entity managed by the Chevy Chase, Maryland-based Polinger Shannon & Luchs Company.
The Purchaser was Avalon Bay, an equity REIT. As of March 31, 2011, the Company owned or held a direct or indirect ownership interest in 187 apartment communities containing 55,027 apartment homes in ten states and the District of Columbia, of which 11 communities were under construction and nine communities were under reconstruction.
Allen Manesh, President of Ideal Realty Group was the team leader for Yale Village. This was a smooth transaction which Allen attributes to the hard work of his team, the professionalism of the staff at Polinger Shannon & Luchs along with the efficient due diligence team at Avalon Bay.
Ideal Realty Group, based in Potomac, Maryland, specializes in multifamily sales in the Mid-Atlantic area with a strong concentration in the Greater Washington, DC and the Greater Baltimore, Maryland regions.
For more information on Ideal Realty Group visit www.idealrealty.com.
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