The JBG Companies acquires prime apartments near transit | Business
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The JBG Companies acquires prime apartments near transit
Silver Spring’s Falkland Chase apartments fit company’s portfolio
Chevy Chase, MD (April 2, 2013) – A prominent apartment community in downtown Silver Spring has changed hands. The JBG Companies has purchased Falkland Chase apartments from Home Properties of Rochester.
“Falkland Chase is a great addition to our residential portfolio,” said David Paul, a JBG partner. “This is a well-located, transit-oriented community that we are proud to own. We are committed to providing excellent customer service to the residents at Falkland Chase from day one.”
A short walk from the busy Silver Spring Metro station and at the crossroads of the future Purple Line, the 450-unit apartment community is perfectly located in the heart of one of Montgomery County’s busiest downtowns.
The JBG Companies’ portfolio includes nearly 7,000 apartments among its 30 million square feet of office, residential, hotel and retail space. JBG invests almost exclusively in urban-infill, transit-oriented developments and Falkland Chase meets that standard. Within 800 feet of Falkland Chase are the Silver Spring Metro station and a stop on the future Purple Line. Also close by is Discovery Communications, The Fillmore Music Hall, AFI Theater and an array of dining and shopping options. The company’s most recent developments in Silver Spring include the Veridian apartments and the Silverton condominiums, also near the Metro and Falkland Chase.
About The JBG Companies
Headquartered in Chevy Chase, Md., The JBG Companies is a private real estate development firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in the Washington, DC area. Since 1960, JBG has been active in the areas where it invests, working to positively impact local communities. More information can be found by visiting the company's website: www.JBG.com, or by calling 240.333.3600.