Thank you for sharing!

Your article was successfully shared with the contacts you provided.

SILVER SPRING, MD- KSI Services of Vienna, VA, has acquired Woodside Manor, a 220-unit apartment community here. The acquisition price was not disclosed. However, KSI did say it would invest as much as $20 million to renovate the units. Some units will be ready for occupancy in late 2001, and the entire community will be renovated by October 2002.

In a statement, KSI President Richard Hausler said, “The purchase of Woodside is part of KSI’s strategy to acquire and improve older apartment communities in Montgomery County, which have pedestrian access to Metro.” The company has previously acquired and renovated three other apartment communities in the county: Bethesda Commons in Bethesda, MD, Fallswood Commons in Rockville, MD and Lakewood Commons in Germantown, MD. All three communities are Metro accessible.

The purchase is also a part of KSI’s affordable housing program, called Smart Living Communities. In August, KSI completed a $17 million renovation of Columbia Commons in Arlington County, VA.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. APARTMENTS Fall 2021Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.