Bridge Buys Silver Spring MF for $70M

Spring Parc, a 399-unit apartment community in Silver Spring, MD, has traded hands for $70.25 million. An affiliate of Salt Lake City-based Bridge Investment Group LLC acquired the asset from Ares Management, L.P.

The property includes 120 one-bedroom, 232 two-bedroom and 47 three-bedroom units, along with institutional-quality amenities, including a swimming pool with separate children’s wading pool, grilling area, two playgrounds, dog park and a fitness center. Located at 17 Featherwood Court, the property is situated in Montgomery County near key employment centers in Silver Spring, Rockville and Washington, D.C., as well as major regional thoroughfares such as Interstates 95 and 495, the Intercounty Connector (ICC)/Maryland 200 and Route 29.

HFF’s investment advisory team representing the seller included Walter Coker, Brian Crivella, Roland Merchant and Stephen Conley, a Maryland licensed real estate broker.

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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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Bridge Buys Silver Spring MF for $70M

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National CRE News In Your Inbox.

Bridge Buys Silver Spring MF for $70M

Inside The Story

About Dennis Kaiser