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Grosvenor Buys 648-Unit Gaithersburg Apartment for $146M

WASHINGTON, DC--Grosvenor acquired its first multifamily property in the DC area in August of 2014.

By Erika Morphy | Updated on December 10, 2015

WASHINGTON, DC—Grosvenor Americas has acquired The Crossings at Washingtonian Center for $146 million. The seller is Quadrangle Development. In October we reported that a source told us Quandrangle had this apartment building, which is located at 9806 Mahogany Dr., under contract along with another apartment property located at 9900 Shelburne Terr.

Grosvenor is planning a renovation of the property. Leasing will be handled by Thrive Communities, which manages apartment for Grosvenor in Washington state and Virginia.

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