NEW YORK, July 13, 2022 /PRNewswire/ — TGM announced today the acquisition of TGM Bull Run, a garden style apartment community with 576 units in Manassas, VA.
The Northern Virginia property was completed in 2001 and is located on approximately 35 acres, with its leasing office and clubhouse situated at 11212 Chatterly Loop. The 100% market-rate garden apartment community is located in the heart of the Interstate 66 Business Corridor located in Manassas/Prince William County which provides residents a bucolic suburban lifestyle with exceptional convenience and accessibility to a broad range of lifestyle amenities as well as numerous employment hubs throughout Suburban Virginia. Residents benefit from an excellent live-work commuter location, centrally sited in the I-66 Business Corridor with easy access to major roadways including I-66, I-95, I-495, Rt. 50, Rt. 28 and Rt. 2 which provide access to the region’s main employment centers.
The design, layout and construction of the apartments are excellent with one- two- and three-bedroom apartments averaging 1,153 square feet. TGM will be renovating all apartment interiors with new kitchen cabinets, countertops, appliances, flooring, lighting, and hardware fixtures. Bathrooms will be renovated to match the finishes of the kitchen. Community amenities include a swimming pool with sundeck and separate children’s pool, grilling areas, dog park, 24-hour fitness center with children’s playroom, and a business center within the oversized clubhouse.
“This acquisition is particularly noteworthy as it marks TGM’s 140th acquisition since the company’s founding some 30 years ago. TGM Bull Run presents a great opportunity to expand TGM’s footprint in the Northern Virginia region. The property has superb access to highway networks, proximity to major clusters of employment, minimal new supply coupled with strong demand drivers of high population and economic growth, and locationally underpinned by the thriving Washington D.C metropolitan area offering a vast array of cultural, entertainment, shopping, educational and lifestyle amenities. TGM sees opportunities for additional growth with the ongoing expansion of corporate and governmental business districts spanning IT, biosciences, data center and research and development sectors, which is further complimented by Manassas being anchored by George Mason University’s Prince William Campus which boasts its College of Science and Technology. This is Northern Virginia’s only university centered research corporate park. Furthermore, the property is proximate to the FBI’s Northern Virginia Resident Agency and Virginia’s State Forensics Lab.” said Zach Goldman, Managing Principal and Chief Operating Officer for TGM.
TGM Bull Run is managed by TGMs’ property management company, TGM Communities. Also owned and managed by TGM in the Maryland/Northern Virginia region are TGM Ridge (Manassas, VA), TGM Sudley Crossing (Manassas, VA), TGM Odenton (Odenton, MD), and TGM Creekside Village (Glen Burnie, MD).
TGM Bull Run, formerly known as The Point at Manassas, was marketed by Walter Coker and Brian Crivella of Berkadia Real Estate Advisors.
Founded in 1991, TGM is an investment advisory firm organized to provide an integrated suite of asset and property management services to its investors through a series of fully integrated operating companies. Through its vertically and horizontally integrated operating companies, TGM specializes in acquisitions, property management, leasing, construction, property maintenance and asset management services. An affiliate of TGM provides property management services under the brand TGM Communities. As of June 30, 2022, TGM has invested in 139 multifamily properties throughout 28 states.
To learn more about TGM please contact John Gochberg, Managing Principal and Chief Executive Officer. Phone: (212) 830-9312, Email: [email protected]