Grosvenor Americas Sells 648-Unit Apartment Community in Gaithersburg, Maryland

GAITHERSBURG, MD. — Grosvenor Americas has sold Sawyer Flats, a 648-unit apartment community located at 9806 Mahogany Drive in Gaithersburg to an undisclosed buyer. The sales price was not disclosed. Newmark represented Grosvenor in the sale transaction.

Sawyer Flats offers one-, two- and three-bedroom floorplans with unit sizes ranging from 715 to 1,556 square feet. Built in 1989, the property includes features such as in-unit washers and dryers, stainless steel appliances, built-in bookshelves, hardwood floors, walk-in closets and balconies and patios. Community amenities include onsite maintenance, package services, a pool, clubhouse, playground and a tennis court.

Under Grosvenor’s ownership, the property had a comprehensive repositioning and rebranding program in 2016 to update unit interiors, landscaping and resident amenities. Other improvements include unit finishes, new outdoor fitness stations and fireside social lounges.

Christian Siding was the general contractor for the property improvements. Grosvenor’s Environmental, Social and Governance (ESG) program allowed the firm to finalize an agreement with Montgomery County to offer several affordable units at Sawyer Flats.

Content Partners
‣ Arbor Realty Trust
‣ Bohler
‣ Lee & Associates
‣ Lument
‣ NAI Global
‣ Northmarq
‣ Pavlov Media
‣ Walker & Dunlop

Subscribe to the newsletter

Webinars on Demand

Read the Digital Editions

Northeast Multifamily & Affordable Housing Business

Midwest Multifamily & Affordable Housing Business

Western Multifamily & Affordable Housing Business

Texas Multifamily & Affordable Housing Business

Southeast Multifamily & Affordable Housing Business

Heartland Real Estate Business

Northeast Real Estate Business

Southeast Real Estate Business

Texas Real Estate Business

Western Real Estate Business

Shopping Center Business

California Centers

Student Housing Business

Seniors Housing Business

Featured Properties