Calsters Buys Silver Spring Apartment Complex and Plans an Upgrade

SILVER SPRING, MD-The California State Teachers' Retirement has bought a 606-unit apartment building in Silver Spring from Equity Residential Properties for $37.5 million. It plans to invest $13 million ito upgrade the property.

By Mike Cleary | October 18, 2000 at 01:01 AM

Greenwich Woods Apartments, which lies on a 30-acre tract at 1702 Hampshire Green Lane, was sold by Equity Residential Properties.

CB Richard Ellis' Baltimore and Tysons Corner offices represented both the buyer and seller.

The big California pension fund reportedly plans to invest $13 million to upgrade the property.

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