JLL completes $62.7M sale of Maryland mixed-use property

WASHINGTON D.C., February 25, 2020 – JLL Capital Markets announced today that it has completed the $62.7 million sale of Monument Village at College Park, a mixed-use residential and retail property in College Park, Maryland.

JLL marketed the property on behalf of Monument Realty. Foulger-Pratt purchased the offering free and clear of existing debt.

Monument Village at College Park consists of 235 residential units averaging 894 square feet, 12,200 square feet of amenity space and 4,800 square feet of ground-floor retail. The property offers community amenities, including a resort-style pool with cabanas and outdoor grilling areas, fitness center with yoga and spin studios, Zen garden, clubroom with catering kitchen and billiards, movie theater and gaming room with snack bar, conference room, lounge with computer workstations and coffee bar, pet spa and dog run.

Completed in 2016, the Class A property is located along Route 1 near the intersection of Baltimore Avenue and Cherokee Street, which positions it near major area highways and public transportation and within two miles of The University of Maryland, College Park. In addition, the property benefits from proximity to major employers in the Discovery District master-planned development as well as numerous government and healthcare employers.

The JLL Capital Markets team representing the seller included Walter Coker, Brian Crivella and Robert Jenkins.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.

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