Local firm buys West End apartments for $25 million

The investment arm of a local real estate firm just closed on one of the largest multifamily deals in years.

TGM Realty Investors purchased Sundance Station Apartments, a 300-unit apartment complex in Western Henrico, from Harbor Group International for $25.75 million.

TGM is a subsidiary of Cushman & Wakefield | Thalhimer, which will oversee the management of the property.

The property was developed in 1983 and is located at 3500 Sundance Way near the Parham Road exit of I-64. It has a clubhouse, fitness center and a pool.

Norfolk-based Harbor Group bought the property in January 2010 from Maryland-based Capreit for $19.25 million.

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Charles Lee

Nice to see deals are still closing.