SILVER SPRING, MD-Hartford, CT-based real estate fund Hutensky Capital Partners has made two investments in DC retail over the past month. In July, it acquired City Place Mall, a 350,000-square-foot shopping center here for $22.8 million. More recently, it purchased a general partnership interest in Woodmore Towne Centre, a $200-million mixed-use development under construction in Glenarden, MD.

Now the company is working with the seller of City Place Mall to determine what its best use will be, principal Brad Hutensky tells GlobeSt.com. The firm acquired it from an affiliate of Petrie Ross Ventures in a three-party deal that included a discounted payoff of 100% of the property’s outstanding debt. An affiliate of the seller will manage and lease the property and lead the redevelopment process.

“We are prepared to put as much capital as needed to maximize both the value and the productivity of the property,” says Hutensky. In general, he adds, the company is interested in Washington, DC-area assets because the market has proved to be far more resilient than almost any other in the country.

The company, though, is still taking a value-add approach to its investments here. The Silver Spring retail center, for example, has been underperforming, which is surprising considering it is located in Downtown Silver Spring and other nearby retail stores and centers are doing well.

“In the case of Silver Spring, there are still some holes that could be filled,” Hutensky tells GlobeSt.com. For instance, he says, Downtown Silver Spring doesn’t offer much in the way of soft goods or apparel, so that is a possible direction for City Mall.