INSIGHT, NOVA-HABITAT TO BUILD $75M APT. COMPLEX

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SILVER SPRING, MD. — McLean, Va.-based Insight Property Group and partner Arlington, Va.-based Nova-Habitat have plans to begin construction on a $75 million, 310-unit apartment complex, located at 8616 Second Ave. in Silver Spring, in the fourth quarter of this year. The partnership recently closed on the acquisition of the site, which is a former U.S. Post Service property located two blocks from the Silver Springs Metro Station. Bethesda, Md.-based Eagle Bank provided acquisition financing for the property.

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