Grosvenor acquires residential building in Maryland with net-zero objective

Grosvenor has acquired its latest multifamily value-add property, Grosvenor Tower, a 237-unit apartment building located at 10301 Grosvenor Place in North Bethesda, Md.

The 21-story building, which coincidentally shares the Grosvenor name, fits Grosvenor’s investment strategy of acquiring and improving existing high-quality multifamily properties in its coastal gateway markets.

Known for its commitment to long-term sustainability, Grosvenor plans to significantly lower the carbon profile of the property while investing in upgrades to modernize common areas and improve apartment interiors. Grosvenor completed the acquisition with a long-term partner.

“As the real estate market and the economy begin to slow, we are well positioned to purchase and enhance properties like Grosvenor Tower over the next 12-to-24 months,” said Scott Brody, senior vice president of investment and general manager of Grosvenor’s Washington, D.C., office. “We’re excited to inve