Property Description

Located in Rockville, Maryland, the Property is comprised of 404 residential units (garden-style multifamily apartment complex with modern amenities and finishes) and three ground-floor retail units.  The Property was built in 2005, and it includes 399,919 rentable square feet situated on 7.28 acres. The unit mix includes 194 one-bedroom units, 190 two-bedroom units and 20 three-bedroom units. Property amenities include: “The Pub”, featuring gaming and indoor/outdoor lounge areas, a resort-style swimming pool with fountains and sundeck, a fitness center offering cardio and weight-training equipment, a poolside cabana with lounge area, a concierge and full-service parcel acceptance, a media center with big screen and surround sound, available parking, an indoor/outdoor e-lounge with WiFi, a convenient business center with workstations and meeting space, a community lawn, and grilling stations. 

Property Type

Multifamily

Structure

Delaware Statutory Trust

CX Residences of
Congress. Village DST

MD

Remaining Availability

77% Remaining

Total Funds
$127,800,487
Remaining Availability
$62,577,487
Minimum Investment
$100K
Funded To Date
$18,580,000
Est. Hold Period
10 Years
Leverage
36.50%
Equity Raise
$81,157,487
Price/SF or Price/Unit
$316,337/Unit

For More Details

 
 
 

Location Details

 
 
 

Population

6,356,434

Population Growth

1.1%

About The Area

Washington, D.C. is a short trip from Rockville, Maryland, with 84 museums, including 21 Smithsonian Museums with free admission, and four of the most-visited museums in the world.35 Washington, D.C. is home to major performing arts venues and sports stadiums such as the Kennedy Center, the National Theatre, FedEx Field and Nationals Park. It also hosts 18 Michelin Star Restaurants.37 Ronald Reagan Washington National Airport, Washington Dulles International Airport and Baltimore/Washington International Thurgood Marshall Airport are all within 40 minutes of the Property.

Rockville was voted #9 on Livability’s list of the Best Cities for Families. Rockville has a low crime rate and a high percentage of children in the community and magnet schools that focus on science and technology. Rockville’s Town Center provides a hip urban setting with a hometown feel, while the Rockville Town Square provides seasonal attractions, including a large fountain during summer months and an ice skating rink in the winter.

The Property is favorably situated near large employers in Montgomery County, the nation’s capital and local amenities. Rockville is a short commute to many employment nodes in the Washington, D.C. MSA, attracting residents looking for charming small town attributes without sacrificing big city or suburban comforts.

The average commute time to work for a Rockville resident is about 30 minutes. This is significantly lower than the average commute in the Washington DC MSA, which is 43 minutes. About 57% of Rockville residents work in their home county, Montgomery, followed by about 13% who work in Washington, D.C.

 

Sponsor

Carter Exchange is a Carter Funds company backed by a team of experts with decades of real estate investment experience and established relationships in both the broker-dealer and real estate brokerage communities. Our investment strategies center around high-growth industries, risk-adjusted returns, a commitment to excellence, and transparent communication. The Carter Funds leadership team has completed over $23 billion in commercial real estate transaction volume and stands ready to provide seamless end-to-end solutions including site selection, acquisition and management services.