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Washington DC & Mid-Atlantic  + DC Metro  + Apartments  |  January 13, 2023
Fairstead and InterVest Capital Partners have acquired Villas at Rockville, a 210-unit rental townhome community in the Shady Grove neighborhood of Rockville, MD.
Lisa McDuffie
By: Lisa McDuffie

Fairstead, Intervest Capital Partners Pay $90M for Rockville Townhome Community

Fairstead and InterVest Capital Partners have paid $90 million to acquire the Villas at Rockville, a residential community in the Shady Grove neighborhood of Rockville, MD. The community consists of 210 rental townhomes and will be rebranded as The Ivy Rockville.

Fairstead is real estate developer specializing in creating sustainable, high-quality housing; InterVest Capital Partners is an investment advisor. The Ivy Rockville joins Fairstead’s existing portfolio of 5,000 market-rate homes, including Pelham Hall in Boston, the Chocolate Factory Lofts and La Rochelle in New York City, and 1500 Locust in Philadelphia.

The Ivy Rockville offers two-, three-, and four-bedroom homes, all with private entryways work-from-home space. The pet-friendly community has a pool with a furnished sundeck, playground, fitness center and club room with a full kitchen, dining table, wi-fi, and screening area.

The property sits at 1699 Yale Place, next door to the six-acre College Gardens Park and two miles away from Rockville Town Square.

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Inside The Story

Fairstead's David Murstein

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.
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