Drucker + Falk Purchases MD Multifamily
The firm acquired the Silver Spring apartment community for $49.5 million and plans to implement a value-add strategy at the property.
SILVER SPRING, MD – A business unit of Drucker + Falk, DF Ventures has acquired the Point at Hampton Hollow Apartments in Silver Spring, MD for $49.5 million.
DF Ventures plans to employ a value-add strategy at the multifamily property, including rebranding the community to the Crest on Hampton Hollow. The firm will additionally update the clubhouse, enhance curb appeal and complete apartment renovations.
Originally built in 1987, the garden-style apartment community offers a range of apartments, as well as a fitness center, pool, resident lounge, business center, picnic area, dog park and walking paths.
The property is situated near Interstate 95 and the Intercounty Connector.
“The acquisition of the Point at Hampton Hollow represents an opportunity to purchase a quality asset within a strong market and increase the income stream and value through strategic capital improvements and quality property management,” states Eric Skow, director of acquisitions at DF Ventures.