Bridge Investment Group Holdings, a Salt Lake City-based private equity investment manager and real estate services provider with $6.7 billion in assets under management, bought the 534-unit Ashford at Woodlake Apts. in Silver Spring, MD from Angelo, Gordon & Co. and Federal Capital Partners. Terms of the deal were not disclosed.
The expansive 564,644-square-foot community delivered in 1979 across from Paint Branch High School and just north of downtown Silver Spring at 14175 Castle Blvd. in the Fairland Multifamily submarket of Washington, D.C.
The community consists of one-, two- and three-bedroom floor plans in 38 apartment buildings. On-site amenities include an outdoor swimming pool and tennis court, and a clubhouse.
Rick Shinberg and Jeff Coles of First Capital Realty represented the selling venture in negotiations.
Please see CoStar COMPS #3702700 for more information on this transaction.