Comstock Holding Companies has expanded its footprint in Rockville with the acquisition of The Reed, a 417-unit apartment community located at 15955 Frederick Road.
The purchase was completed through a joint venture between Comstock and an institutional fund advised by Benefit Street Partners, with additional investment from Comstock Partners, LC. Two Comstock subsidiaries, CHCI Residential Management and ParkX Management, will oversee property management for the community.
Built in 2015, The Reed sits directly adjacent to the Shady Grove Metro Station and within walking distance of King Farm’s restaurants, shops, and open spaces. The property features a mix of one-, two-, and three-bedroom units, along with amenities including a resort-style pool, fitness center with yoga and boxing studio, clubroom, outdoor gathering areas, resident lounges, and a private parking garage.
The acquisition strengthens Comstock’s presence in the Rockville submarket, where the company now owns and manages more than 900 apartment units across three transit-oriented properties, including BLVD Forty Four and BLVD Ansel.
Company officials emphasized the property’s location and quality as key factors in the deal, pointing to its proximity to Metro access and its fit within Comstock’s broader transit-oriented portfolio strategy.
Financing for the transaction, including both debt and equity components, was arranged by NewPoint Real Estate Capital. A sale price was not disclosed.
