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Berkshires at Rock Spring Trades for $64M

Suburban Maryland's annual absorption increased slightly from a year ago, according to a report by Delta Associates.

By Erika Morphy | erikamorphy | Updated on July 20, 2017

Berkshires at Rock Spring. Photo by Berkshire Group

BETHESDA, MD–San Diego-based Fairfield Residential has added to its stable of apartment buildings in suburban Maryland with its recent acquisition of Berkshires at Rock Spring for $63.8 million, or $165,285 per unit. The seller of the 386-unit, 4-story apartment building was the Berkshire Group. The last time the property, which was built in 2002, traded was in 2011 for $73.8 million.

Fairfield Residential owns a number of apartment buildings in the area, including 7001 Arlington at Bethesda Apartments; in Gaithersburg it owns Parklane Apartments and 17 Barkley Apartments; it owns The Barrington Apartments in Silver Spring; and Oakfield Apartment Homes in Wheaton.

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