ROCKVILLE, MD. — Comstock Holding Cos. and Benefit Street Partners have acquired The Reed, a 417-unit community adjacent to the Shady Grove Metro Station in Rockville. Two Comstock subsidiaries, CHCI Residential Management and ParkX Management, will provide property management services. NewPoint Real Estate Capital arranged an undisclosed amount of equity as well as Freddie Mac financing for the buyers. Reston, Virginia-based Comstock is an investor, developer and operator focused on mixed-use and transit-oriented assets in the Washington, D.C., metro area. The acquisition of The Reed expands Comstock’s footprint in the Rockville submarket, where the company now owns and manages approximately 900 units across three transit-oriented, multifamily properties. The Reed was developed in 2015 and is comprised of one- to three-bedroom units and amenities such as a resort-style pool, fitness center with a yoga and boxing studio, a clubroom, outdoor gathering spaces and a parking garage for residents.
Along with investment partner Benefit Street Partners, locally based Comstock Holding Cos. has purchased The Reed, a 417-unit community adjacent to a metro station Rockville, Md.
Comstock Acquires The Reed in Rockville, Maryland
27
previous post