Affordable Homes & Communities And BrookWynn Capital Acquire 160-unit Multifamily In Silver Spring For $42.3M

The asset involved in this transaction is a multifamily property located at 8711 Georgia Avenue in Silver Spring, MD. The sale price of the property was $42,300,000, consisting of 160 units, resulting in a price per unit of $264,375.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $42,300,000
• Address: 8711 Georgia Avenue
• Market: Silver Spring, MD
• Units: 160
• Price Per Unit: $264,375
• Buyer: Affordable Homes & Communities & BrookWynn Capital
• Seller: Anthony G. LaBarbera - Guardian Realty

This transaction involved a partnership of Affordable Homes & Communities and BrookWynn Capital, which purchased the Premier apartments and is set to convert 100 of the units into affordable housing while retaining all current residents in place.