WASHINGTON, D.C. – August 13, 2018 – Holliday Fenoglio Fowler, L.P. (HFF) announces the $70.25 million sale of Spring Parc, a 399-unit apartment community in Silver Spring, Maryland.
The HFF team marketed the property on behalf of the seller, Ares Management, L.P., and procured the buyer, an affiliate of Bridge Investment Group LLC.
Spring Parc comprises 120 one-bedroom, 232 two-bedroom and 47 three-bedroom units along with institutional-quality amenities, including an expansive swimming pool with separate children’s wading pool, grilling area, two playgrounds, dog park with agility course and a fitness center. Located at 17 Featherwood Court, the property is situated in Montgomery County near key employment centers in Silver Spring, Rockville and Washington, D.C. as well as major regional thoroughfares such as Interstates 95 and 495, the Intercounty Connector (ICC)/Maryland 200 and Route 29. In addition to its centralized location, the property is also convenient to numerous nearby retail amenities and two forthcoming developments.
The HFF investment advisory team representing the seller included Walter Coker, Brian Crivella, Roland Merchant and Stephen Conley, a Maryland licensed real estate broker.