Entities controlled by JPMorgan Chase have sold two apartment complexes with 554 units in the Maryland suburbs of Washington, D.C., for $62.5 million.

Valoff Enterprises of Los Angeles paid $34.5 million for the 240-unit Beacon Place in the Kentlands area of Gaithersburg. And Federal Capital Partners of Washington paid $28 million for the 314-unit Crystal Park in Frederick at 100 Alessandra Court.

The entities acquired both garden-style properties in 1991 shortly after they were built. They also recently renovated both properties.

Ideal Property Group of Potomac, Md., brokered the most recent sales and helped line up Freddie Mac financing used in the Beacon Place acquisition.

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