PROGRAM: 102 garden apartments including one-bedroom and two-bedroom floor plans in three-story enclosed breezeway buildings. YEAR BUILT:1967 / substantial renovation in 2007 PROPERTY WEBSITE:http://equitymgmt.com/westerly.cfm WESTERLY PARK APARTMENTS LOCATION: Wheaton, Maryland OWNER: Abbey Road Property Group, in partnership with Buvermo Properties, Inc. SUMMARY In late 2009, Abbey Road closed on the acquisition of the Woodberry Park and Westerly Park Apartments, located in the heavily traveled Georgia Avenue corridor in Wheaton just half a mile south of the Glenmont Metro station. The properties were completely renovated by the prior owner in 2007, and were purchased well below replacement cost. The surrounding area has significant barriers to entry for new construction, and amenities including a major regional park and two grocery stores are within walking distance. With attractive long-term debt financing provided by Fannie Mae, this investment is projected to provide strong current and future returns while serving a stable demand for middle income housing.