BlackRock Buys Bethesda Transit-Oriented MXU

Flats at Bethesda Avenue, a mixed-use residential and retail property located in the heart of Bethesda, MD, has been sold for an undisclosed amount. A fund managed by BlackRock Real Assets acquired the 162-unit transit-oriented multifamily asset from a joint venture between StonebridgeCarras, PN Hoffman, Buvermo and Northwestern Mutual.

Completed in 2015, the property also includes nearly 40,000 square feet of ground-floor retail that is 100% leased to Pottery Barn, PassionFish, Silver, Chop’t, Paul and Long & Foster Real Estate.

The residential component features one, two and three-bedroom units. Amenities include a rooftop deck with demonstration kitchen, resident lounge, fire pit and bar, a state-of-the-art fitness center, a two-level clubroom with fireplace, billiards and kitchen, a coffee lounge with Wi-Fi, and an outdoor patio overlooking a landscaped courtyard and the Capital Crescent Trail.

HFF’s Stephen Conley, Sue Carras, Walter Coker, Brian Crivella, John Owendoff and Jordan Lex represented the seller.

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About Dennis Kaiser

Dennis Kaiser is Vice President of Public Relations and Communications for Connect Creative. Dennis is a communications leader with more than 40 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect Creative’s agency client services and is involved in a range of initiatives ranging from public relations and content strategy, communications and message development, copywriting, media relations, social media and content marketing services. Prior to joining Connect Media in 2015, his most recent corporate communications roles involved leading a regional public relations effort across Southern California for CBRE, playing a key marketing role on JLL’s national retail team, and directing the global public relations effort at ValleyCrest (BrightView), the nation’s largest commercial landscape services company. He has worked on marketing communications assignments for such CRE companies as Blackstone/Equity Office, Carlyle, Caruso, Disney Resorts, GE Capital, Irvine Company, Hines, Howard Hughes Corp., Jeffries, Lennar, MGM, Marcus & Millichap, Prologis, Raleigh Studios, Simon, Starwood, Trammell Crow Company, Transamerica, UBS and Wynn Resorts. Dennis has also worked on communications and launch strategies for a number of consumer electronic, media and tech brands including SlingMedia, Channel Master, Deluxe Media Entertainment, BeIn Sports, EchoStar and Sprint. Dennis’s agency background included firms such as Off Madison Ave., Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, Boy Scouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and the Thunderbirds Charities.

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BlackRock Buys Bethesda Transit-Oriented MXU

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BlackRock Buys Bethesda Transit-Oriented MXU

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About Dennis Kaiser