TGM ACQUIRES FOURTH MULTIFAMILY APARTMENT COMMUNITY IN VIRGINIA WITH ASHBURN PURCHASE
NEW YORK, Nov. 21, 2022 /PRNewswire/ -- TGM announced today the acquisition of TGM Moorefield, a garden and mid-rise style community with 413 apartment units and 30,000 square feet of retail in the Moorefield Station neighborhood of Ashburn, VA.
The community is minutes from the newly opened Ashburn Silver Line Metro station connecting this transit-oriented location to Dulles Airport, Reston, Herndon, Tysons & the heart of Washington D.C. TGM Moorefield, located in Loudon County was completed in 2009 and is sited on approximately 15 acres just north of Loudon County Parkway with its leasing office and clubhouse at 22555 Leanne Terrace. The property is on the southwest side of the Dulles Greenway (Rt. 267) and is bordered to the northeast by Ashburn proper, to the northwest and west by Brambleton and to the south by Loudoun Valley Estates.
Ashburn boasts an excellent live-work-play location as evidenced by its 2021 ranking as No. 5 on Money Magazines 50 Best Places to Live in the United States. The area has extensive parks, biking and walking trails and access to numerous outdoor recreational activities. The Ashburn public school system is highly ranked and the property is within walking distance of Moorefield Station Elementary School. Employment opportunities are abundant within the proximate and expanding Dulles Technology Corridor and Data Center Alley. TGM Moorefield is also near the regions other major employment centers including Dulles Airport, Reston, Herndon, Tysons, and Fairfax.
The design, layout and construction of the apartments are excellent with studio, one- two- and three-bedroom apartments. 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, landscaped courtyard with grilling areas, dog park, 24-hour fitness center, yoga studio, entertainment and game room and an outdoor veranda with lounge seating.
"TGM Moorefield presents a great opportunity to continue TGM's expansion in the Northern Virginia region. The community boasts an outstanding location in the Moorefield Station neighborhood minutes from the newly opened Ashburn Silver Line Metro station. Ashburn and Loudon County are some of the top-ranked business communities in the United States with some of the most educated labor pools. The area continues to attract residents who are drawn to the abundant lifestyle conveniences and the overall high quality of living, said Zach Goldman, Managing Principal and Chief Operating Officer for TGM.
TGM Moorefield is managed by TGMs' property management company, TGM Communities. Also owned and managed by TGM in the Maryland/Northern Virginia region are TGM Bull Run (Manassas, VA), TGM Ridge (Manassas, VA), TGM Sudley Crossing (Manassas, VA), TGM Odenton (Odenton, MD), and TGM Creekside Village (Glen Burnie, MD).
TGM Moorefield 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 September 30, 2022, TGM has invested in 140 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]
SOURCE TGM
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