(Read more on the multifamily market.)
ROCKVILLE, MD-An ambitious public-private partnership here isnearing completion with the developer selling off three of the fourmain residential components. Rockville Town Square developer RDRockville LLC, a joint venture between Ross Development &Investment and Danac Corp., has sold the Lunette, the Venetian andthe Fenestra to an affiliate of CIM Group, a California-based realestate investment company with a regional office in Bethesda.
The buildings traded hands at an undisclosed price, according toMark Ehlinger, director of Sonnenblick Goldman, which arranged thesale. A fourth building is currently being sold as condo units, hetells GlobeSt.com, some of which have already closed.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
