The Central, a 243-unit apartment building at 8455 Fenton Street in Silver Spring– completed in 2017– has been sold for $71.35 million.
The property includes 15,000 square feet of retail space with tenants such as Dunkin’ (opening soon), &Pizza, Orangetheory Fitness, and Pure Barre. Previously, El Sapo occupied a corner space from 2018 until its closure in 2024. Source of the Spring reports that Centeal is leased and managed by Bozutto.
According to Biz Journals, Miami-based Galium Capital paid approximately $290,000 per unit for the complex from seller Grosvenor Group, with Eastdil Secured brokering the deal, which closed on March 31. ““We are strong believers in the DC-metro market fundamentals and the recent variability that has deterred institutional investors has opened the window to acquire high quality assets at compelling pricing,” said Jacques Bessoudo, managing partner of Galium Capital, said in a statement announcing the deal.
Additionally, Maryland Newsletter reports that the nearby ‘Core’ apartment building– built in 2017 and located at 8621 Georgia Avenue in downtown Silver Spring– is soon coming to market. Featuring 292 units and nearly 95 percent leased, Core is generating significant interest, per the report.