StoneBridge Investments of Washington, DC has acquired Beech’s Farm, a 135-unit rental apartment community in Columbia, MD, for $25.5 million. The new ownership plans unit renovations and a new fitness center. StoneBridge’s European investors were attracted to the area’s strong economy and demographics.
Led by Vanguard Realty’s 14,434 square foot lease renewal at 1390 Piccard Drive in Rockville, MD, Washington Property Company of Bethesda, MD leased just under 40,000 SF of space in five of its suburban Washington, DC office buildings during the first quarter of 2016.
The JCR Companies has acquired Manokeek Village Shopping Center in Accokeek, MD, just ten minutes from the Washington, DC Beltway, for $22 million. This 90,172 square foot grocery-anchored shopping center is located at the heavily traveled intersection of Manny and Berry Roads in Prince George’s County, MD. Anchored by Giant Food, Manokeek Village is more than 90 percent leased to a total of 11 credit and local/regional retailers including Starbucks, Wendy’s Advance Auto, SunTrust Bank, and 7-Eleven.
The Donaldson Group (TDG) of Rockville, MD and its equity partner, New York-based Angelo, Gordon & Co. (AG), have acquired Cider Mill Apartments, an 864-unit garden-style apartment community located in Montgomery Village, Maryland. The acquisition price was approximately $110 million, and the partnership plans to invest an additional $15 million to renovate the property.