Rockville Town Square Sells 3 Residential Assets

(Read more on the multifamily market.)

ROCKVILLE, MD-An ambitious public-private partnership here is nearing completion with the developer selling off three of the four main residential components. Rockville Town Square developer RD Rockville LLC, a joint venture between Ross Development & Investment and Danac Corp., has sold the Lunette, the Venetian and the Fenestra to an affiliate of CIM Group, a California-based real estate investment company with a regional office in Bethesda.

The buildings traded hands at an undisclosed price, according to Mark Ehlinger, director of Sonnenblick Goldman, which arranged the sale. A fourth building is currently being sold as condo units, he tells GlobeSt.com, some of which have already closed.