(To read more on the multifamily market, click here.)
Bounded by E. Montgomery Ave., Maryland Ave., E. Middle Lane andMonroe St., Duball Rockville's newly acquired parcel is adjacent tothe city's 15-acre Town Square project that is currently under way.The JV relied on Wachovia Bank NA to provide financing.
An Akridge spokesperson tells GlobeSt.com that the real estatecompany had owned the property since March of 2004. Now that theland has come into Duball Rockville's possession, it willultimately become home to two high-rise residential towersfeaturing a total of 485 multifamily residences, 40,000 sf ofretail space and 1,400 parking spaces.
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