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The Pearl in Downtown Silver Spring, Maryland
FinanceMarylandNewsNortheast

PGIM Provides $188 Million Refinancing for Five-Property Portfolio in Downtown Silver Spring, Maryland

by Channing Hamilton

SILVER SPRING, MD. — PGIM Real Estate has provided a $188 million loan for The Blairs, a five-property portfolio in downtown Silver Spring. The borrower, Tower Cos., will use the fixed-rate loan to refinance the portfolio, which comprises The Pearl, Blair Towns, Blair House, Blair East and Blair Plaza. The five properties are located within a master-planned community that Tower Cos. owns, and offer 1,396 units altogether. According to PGIM, The Blairs was the first residential campus to receive the LEED Gold certification for operations and maintenance.

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Falkland Chase in Silver Spring, Maryland
Affordable HousingDevelopmentMarylandNewsNortheast

APAH Plans $39.6 Million Redevelopment of Affordable Community in Silver Spring, Maryland

by Channing Hamilton

SILVER SPRING, MD. — Arlington Partnership for Affordable Housing (APAH) has purchased Falkland Chase, a garden-style community in Silver Spring, from JBG Smith. The property currently offers 170 units that are affordable to households earning between 60 and 65 percent of the area median income (AMI). APAH plans to redevelop the Falkland Chase in phases, with the first phase slated to break ground in 2026. At full build-out, the redevelopment will add 1,250 new units to the property. Units will come in one-, two- and three-bedroom layouts. Montgomery County provided …

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Bainbridge Market Commons in Frederick, Maryland
DevelopmentMarylandNewsNortheast

The Bainbridge Cos. Opens Bainbridge Market Commons in Frederick, Maryland 

by Channing Hamilton

FREDERICK, MD. — The Bainbridge Cos. has opened Bainbridge Market Commons, a 344-unit community in Frederick in western Maryland. Bainbridge Market Commons offers one, two, and three-bedroom apartments with stainless steel appliances, washers and dryers, plank flooring, ceiling fans, LED light fixtures and Wi-Fi smart thermostats. Amenities include a fitness center, co-working spaces, EV chargers, a dog park, outdoor playground, pool with cabanas, clubhouse and package room. The property is in the city’s Tech/Biotech Corridor, which The Bainbridge Cos. states is ranked in the top five for largest life science clusters in …

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A 3D render of the Quill by Alta, a multifamily complex in Baltimore.
DevelopmentMarylandNewsNortheast

Wood Partners Breaks Ground On The Quill by Alta in Baltimore

by Channing Hamilton

BALTIMORE — Atlanta-based developer Wood Partners has broken ground on The Quill by Alta, a 270-unit community in Baltimore’s Federal Hill district. The Quill by Alta will offer studio, one-, two- and three-bedroom floor plans. Amenities include a pool with a tanning deck, an outdoor entertainment area, a gaming area, a dog park and a rooftop lounge. The development serves as phase two of Wood Partners’ Alta Federal Hill project, which was built in 2021. The Quill by Alta will open next year, with preleasing slated for the first half …

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Investment SalesMarylandNewsNortheast

Greysteel Arranges Sale of 14-Building Whittier Avenue Portfolio in Baltimore

by Kari Lloyd

BALTIMORE — Greysteel, a national commercial real estate investment services firm, has arranged the sale of a 14-building portfolio in Baltimore. The deal consisted of six multifamily properties and eight single-family homes.  Aaron Inman, Kyle Tangney and Herb Schwat of Greysteel negotiated the transaction on behalf of the seller, an undisclosed private investor from Prince George’s County, Maryland. The undisclosed buyer is a joint venture of a family office from the New York area and a private equity firm from North Carolina. The properties have been managed by a sole …

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