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KLNB’s New Multifamily Team Completes Gaithersburg Sale

KLNB’s new multifamily yeam has completed its first transaction under the KLNB banner with the sale of Governor Square Apartments, a 238-unit multifamily community located at 409 Muddy Branch Rd. in Gaithersburg, MD. KLNB partner Rawles Wilcox, SVP Jared Emery and VP Dutch Seitz represented the buyer, Acento Real Estate Partners, a Bethesda, MD-based multifamily-focused investment and property management firm. The seller was not represented. 

In February 2023, KLNB acquired Edge Commercial Real Estate, a regional leader in multifamily real estate, adding 18 brokers who specialize in multiple facets of office, industrial, tenant representation, and multifamily investment sales and leasing, including Wilcox, Emery, and Seitz. 

“Despite the first quarter of 2023 being somewhat challenging for many investors, Governor Square fits perfectly with Acento’s long-term additions in core locations,” says Wilcox. “Acento has been actively interested in Maryland investment opportunities, but it had to be the right property with distinct potential.” 

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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