TGM Lassos Northern Va. Apartment Complex From Equity

Law360, New York (December 22, 2011, 9:11 PM EST) -- Real estate investment firm TGM Associates has snagged a 432-unit apartment community in a Washington suburb from Equity Residential, giving it a new foothold in the market, the company announced Wednesday.

New York-based TGM purchased the Manassas, Va., community with 373,688 of rentable square feet for an undisclosed sum. Though the terms of the deal were not immediately available, TGM has a policy preference for acquiring multifamily housing worth a minimum of $25 million and funding the deals with all cash or cash to existing mortgages,...
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