A 310-unit luxury apartment project developed in Silver Spring, Maryland.
A former, surface-parked post office transformed by Insight into a thriving, modern, urban, residential community.
Insight and partner BlackRock acquired this property in September of 2012. Prior to the acquisition, Insight spent two years working with the Seller, the community, County Planners, staff and politicians to obtain Preliminary Plan and Final Site approval for the re-development of the site into a $73,000,000, 310-unit, Class A apartment community. Insight received its approvals and began construction in January 2013. Construction was substantially complete in December of 2014. The property, Fenwick Apartments, remains fully stabilized. The project was delivered under budget and on schedule.
BlackRock and Insight recapitalized the project in March of 2017 and replaced the construction loan with a Capital One/Fannie Mae permanent loan. The Team's plan is to continue to own and operate the property into the future.
Fenwick Apartments is extremely well located in the thriving Silver Spring, Maryland CBD. This submarket continues its transformation into a destination of choice for many of the area’s renter-by-choice demographic. The property, which is within three blocks of the Silver Spring Metro Station and Transit Center, offers an authentic urban lifestyle in a location with outstanding access to highways, public transportation, cultural attractions, numerous shopping and dining options and many of the area’s major employment centers including Silver Spring, Bethesda, Rockville and Washington, DC.
Fenwick includes top-tier finishes, amenities and gathering spaces. Numerous pieces of original artwork are placed throughout the property.