Invesco Buys Brand-New Bethesda Apartments
- Jun 22, 2016
Bethesda, Md.—Invesco Real Estate has acquired Flats 8300, a 359-unit high-rise residential property with ground-floor retail in Bethesda, Md. HFF marketed the property on behalf of the seller, a joint venture between StonebridgeCarras and an affiliate of Walton Street Capital.
Completed just last month, Flats 8300 is located at 8300 Wisconsin Ave. along the Metrorail Red Line on a 1.6-acre site at Battery Lane, just south of the National Institutes of Health and Walter Reed campuses. The nine-story property is walkable to the Bethesda Row and Woodmont Triangle areas of downtown Bethesda, earning a Walk Score of 91 of 100 (“Walker’s Paradise”).
The property includes a mix of studio to three-bedroom floorplans along with townhouse and penthouse options. The retail on the ground floor is anchored by a Harris Teeter grocery store with a Starbucks.
The property also features breezeway and façade ornamentation by sculptor Kent Bloomer, a half-acre courtyard with water feature and sculptures by artist Barton Rubenstein, and a ninth-floor clubroom with billiards and bar. Other common amenities include a green rooftop with fireplace and demonstration kitchen; two rooftop swimming pools; fitness center; business center; pet spa; underground parking with electric car charging stations; and concierge service.
Invesco Real Estate is a real estate investment management business with over $67.7 billion in real estate assets under management. StonebridgeCarras is a privately held real estate firm based in Bethesda, focusing primarily on developing mixed-use properties in the D.C. metro area. The HFF investment sales team representing the seller was led by Walter Coker, Brian Crivella and Stephen Conley.