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GAITHERSBURG, MD-Arlington, VA-based AvalonBay Communities has acquired two apartment complexes in suburban Washington for a total of $146 million. AvalonBay paid $101 million for Grove Park, a 684-unit apartment community here and $45 million for Briarwood, a 348-unit apartment community in Owings Mills, MD. Grove Park was built in 1974 and renovated in 2005 and 2006. The seller was Federal Capital Partners and Angelo, Gordon. Briarwood is an 11-year-old development that includes townhomes.


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