STERLING, VA — Continental Realty Corporation (CRC), a Baltimore-based commercial real estate investment and management company, has announced the sale of Chase Heritage, a 236-unit apartment community located at 1212 Chase Heritage Circle in Sterling, to Chandler Residential. CRC acquired the asset in 2012 on behalf of CRC Fund III, L.P. The CBRE Mid-Atlantic team, led by Bill Roohan, Jonathan Greenberg and Robert Dean, represented CRC in this transaction. This is the fifth property sold by CRC Fund III, L.P., with seven properties remaining in the fund.
“We achieved strong occupancy throughout our ownership of Chase Heritage, and managed to grow rents in a highly competitive market,” stated David Donato, senior vice president of Continental Realty Corporation. “Interest among potential buyers was extremely deep and it was a highly competitive bidding process, which speaks to the quality of this project and the efforts of CBRE Mid-Atlantic Team.”