Gaithersburg Apartment Complex Sells For $31.3 Million

The Oakwood Gaithersburg apartment high rise, located in Washingtonian Center, was purchased by Bernstein Management Corp, The Washington Business Journal reported.

The Oakwood Gaithersburg apartment high rise, located at 9890 Washingtonian Boulevard, has been sold to Washington, DC-based Bernstein Management Corp. for $31.3 million, The Washington Business Journal reports.

The 136-unit, 11-story luxury high rise was built in 1989 and features 1- and 2-bedroom apartments, according to the report.

The sale averages $230,147 per unit, according to the report. The complex was previously owned by Archstone.

Read more on The Washington Business Journal.

Nathan February 26, 2013 at 08:06 PM
I live at the Archstone Apt. complex in Olde Towne Gburg that was just opened last year and is still in the process of being completed. The company just sold that complex to their competitor. The sale will be finalized this week. Looks like Archstone is liquidating all of there assets.


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