29th Street Capital Buys 232-Unit Solaire Apartments in Silver Spring, MD

Yalda Ghamarian 

 

 Silver Spring, MD – 29th Street Capital (29SC)  has acquired Solaire Apartments, a 232-unit Class A property in Silver Spring, Maryland. 

29SC plans to rebrand the property to “Maven at Wheaton” and will make property upgrades by renovating apartment units, and modernizing interior and exterior amenity areas.

 The price was not disclosed.

Brian Berry

The six-floor building features a 24-hour fitness center, swimming pool and sundeck, community room, and a courtyard patio with grilling station.

 

Brian Crivella

“Built in 2014, Solaire Apartments is a high-quality transit-oriented property within a short walk of both Wheaton Metrorail Station and Westfield Wheaton Mall,” said Brian Berry, Senior Vice President Mid-Atlantic for 29SC.

 “We look forward to executing on our business plan and continuing to expand in the

Washington DC region.”

 Brian Crivella, Walter Coker, Bill Gribbin, and Yalda Ghamarian from Berkadia represented the seller.

Walter Coker

Haven Residential, the 29SC-owned property management company, will oversee management and leasing.

 Formed in 2009, 29th Street Capital is a privately held real estate investment firm with 16 offices nationwide.

 Its current portfolio consists of more than 20,000 existing units and a development pipeline of over 3,800 units.

 In the last year, 29SC has acquired 16 multifamily assets across the United States that contain over 4,500 units.

Bill Gribbin

The firm continues to actively pursue new opportunities.

 CONTACT:

 Julia Eich

Director of Marketing and Communications

+1.847.977.0876 | 

julia.eich@havenresidential.com

 

29SC.com