Corner Lot Advisors, a privately owned real estate investment firm and operating partner specializing in the acquisition and repositioning of multifamily assets, announced the purchase of 8200 Wisconsin Ave., a 245-unit property anchoring the east end of Battery Lane, a major artery in downtown Bethesda, Md.
“For us, 8200 Wisconsin Avenue represented a generational opportunity to acquire and reposition a core multifamily asset in an A+ location,” said Michael “Chip” Davis, managing principal at Corner Lot Advisors. “After completion of our extensive, planned improvements, 8200 will be well positioned to aggressively compete with new class A product currently under development in the area but at a basis of less than 50 percent of their costs. It’s a great capstone to our other recent acquisitions and demonstrates our ability to transact in even the most austere real estate environment.”
When complete, 8200 will offer large luxury units and elevated ameniti
