Washington, DC-based Grosvenor has acquired Grosvenor Tower, a 237-unit apartment building located at 10301 Grosvenor Place in North Bethesda, MD. According to published reports, the asset traded for $95 million.

Grosvenor completed the acquisition with a long-term partner and has engaged Bozzuto Management to oversee day-to-day property management.

Grosvenor plans to significantly lower the carbon profile of the 21-story building, which coincidentally shares the Grosvenor name, with sustainable improvements in line with Grosvenor’s 2030 World Green Building Council Net Zero commitment.

The company also plans to implement a supply chain diversity program to ensure minority and women owned vendors are fairly represented in remodel work to modernize common areas and improve apartment interiors and ongoing building operations.

Last year, Grosvenor and two Canadian pension funds concluded a 10-year value-add program, which acquired and sold $910 million in income-producing assets, including 2,650 multifamily units in Washington, DC, Seattle, WA and San Francisco, CA.