Continental Realty Corporation, a Baltimore-based commercial real estate investment and management company, sold the 236-unit Chase Heritage apartment complex in Sterling to Chandler Residential.
The apartments were built in 1986. CRC acquired the property in 2012 and has since renovated 50 units.
“We achieved strong occupancy throughout our ownership of Chase Heritage, and managed to grow rents in a highly competitive market,” stated David Donato, CRC senior vice president. “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.”