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Governor Square Apartments sells in Gaithersburg
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KLNB, the mid-Atlantic region’s largest privately held CRE brokerage firm, Friday announced the firm’s new multifamily team has executed its first transaction under the KLNB banner, the sale of Governor Square Apartments, a 238-unit multifamily community at 409 Muddy Branch Road in Gaithersburg.
Terms of the deal were not disclosed.
KLNB Partner Rawles Wilcox, Senior Vice President Jared Emery and Vice President Dutch Seitz represented the buyer, Acento Real Estate Partners, a multifamily-focused investment and property management firm based in Bethesda. The seller was not represented.
In February, KLNB acquired Edge Commercial Real Estate, adding 18 brokers who specialize in multiple facets of office, industrial, tenant representation and multifamily investment sales and leasing, including Wilcox, Emery and Seitz.
Governor Square has been institutionally maintained and was sold as an off-market investment. The property features one, two, and three-bedroom units varying in size from 720 square feet to 1,290 square feet and offers a swimming pool and sundeck, three play areas and is within five minutes of Interstates 270, 370 and the Intercounty Connector (Route 200).
