Pennsylvania-based 5 Cap Realty LLC (5 Cap) and its affiliate RREIC Advisors has teamed with a private equity fund vehicle managed by JMP Asset Management LLC, an affiliate of publicly traded JMP Group LLC, to launch a multi-year national investment venture that could top $1 billion in assets under management.
The long-awaited opening of acclaimed True Food Kitchen in Bethesda, MD is scheduled for Wednesday, June 14, 2017. This sophisticated, healthy dining concept will occupy the entire 6,400 square foot retail space in Washington Property Company’s Solaire Bethesda luxury apartment community, which delivered in late 2016 and has been leasing rapidly.
Washington Property Company (WPC) will break ground shortly on its latest luxury apartment community, Solaire 8250 Georgia Avenue, just two blocks from the Silver Spring (MD) Metro and multi-modal transit station. This is WPC’s fourth Solaire-branded apartment community and its second in Silver Spring’s rapidly evolving Ripley District.
StoneBridge Investments of Washington, DC has acquired 550 Abernathy Apartments, a 228-unit apartment community in the greater Atlanta submarket of Sandy Springs, for $31 million. The property is located at 550 Abernathy Road NE within Perimeter Center, a fast-growing “edge city” that encompasses three small cities: Brookhaven, Dunwoody, and Sandy Springs. It is Atlanta’s largest employment center, with over 123,000 employees, 31 million SF of office space, three major hospitals, and six million SF of retail space including the 1.5 million SF Perimeter Center Mall.