Spring Parc in Maryland changes hands for $70m

An affiliate of Bridge Investment Group paid $70.25m for Spring Parc, a 399-unit multifamily asset in Silver Spring, Maryland. The property is made up of 120 one-bedroom, 232 two-bedroom and 47 three-bedroom units. The asset changed hands for just over $176,065 per unit. Common amenities include a swimming pool with a separate children’s wading pool, a grilling area, two playgrounds, a dog park and a fitness center. Holliday Fenoglio Fowler marketed the property on behalf of the seller, Ares Management.