JLL Capital Markets announced that it has closed the sale of the 538-unit Cadence at Crown multihousing property located at 113 Ellington Blvd. in Gaithersburg, Maryland.
JLL represented the seller and completed the sale to the buyer, JRK Property Holdings.
The property consists of studio, one-, two- and three-bedroom apartments averaging 863 square feet. Unit amenities include stainless steel appliances, quartz countertops, sleek finishes, and oversized windows. The asset was also built to LEED standards with energy-efficient appliances, water-saving fixtures and overall sustainability in mind.
Community amenities include a resort-style pool and sun deck with canopies, 24-hour fitness center, Internet café, conference room, gaming lounge, contemporary library, font-desk concierge, pet spa, bike racks, electronic vehicle charging stations and more.
Cadence at Crown is positioned in the I-270 Biotechnology Corridor, a 15-mile stretch of leading scientific and research organizations and also located near the I-270 Technology Corridor, which is home to prominent technology companies such as the National Institutes of Health and National Institutes if Standards and Technology.
The JLL Capital Markets team representing the seller was Managing Directors Walter Coker and Brian Crivella and Director Robert Jenkins.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.