Business
Comstock Acquires the Ansel at Rockville Town Center
Company’s 2nd Acquisition at Rockville Metro Positions BLVD as Premier Luxury Residential Offering RESTON, Va., March 23, 2022 (GLOBE NEWSWIRE) -- Comstock
About this update from Comstock Holding Companies, Inc.
[{"type":"text","content":"Company’s 2nd Acquisition at Rockville Metro Positions BLVD as Premier Luxury Residential Offering\nRESTON, Va., March 23, 2022 (GLOBE NEWSWIRE) -- Comstock Holding Companies, Inc. (Nasdaq: CHCI) (“Comstock”) announced today that it has completed the acquisition of Ansel on behalf of a joint venture between CHCI and Comstock Partners, LC, an affiliated, privately-held company. The 250-unit, 18-story, luxury high-rise apartment building is located at 33 Monroe Street in Rockville at the entrance to Metro’s Rockville Station in the heart of the I-270 Technology and Life Science Corridor in Montgomery County. Comstock acquired the project upon substantial completion and will begin leasing, managing, and rebranding the property as BLVD Ansel. The mixed-use property is the sister building to Comstock’s recently acquired BLVD Forty Four, located at 44 Maryland Avenue. BLVD Ansel features 250 market-rate units, 20,153 square feet of retail space, 611 parking spaces, and expansive amenity spaces, including a spacious lobby with concierge service, penthouse clubroom, fitness center and yoga studio, and multiple private workspaces designed to meet the needs of remote-working residents. The outdoor amenity spaces include a 9th floor swimming pool with outdoor cooking stations, a television lounge, and a rooftop courtyard for outdoor dining. BLVD Ansel offers a mix of unit types and floor plans ranging from studio, one bedroom, and two-bedroom apartments, and includes a pet spa with multiple grooming stations and a best-in-class amenity package. Skyline views of Tysons, Reston, the Washington National Cathedral, and the Blue Ridge and Sugarloaf Mountains are visible from the upper floor apartments and the property’s rooftop amenity spaces. With this transaction, Comstock and its affiliates have now acquired over $500 million of income-producing properties over the past three years. CHCI Residential Management and ParkX Management, wholly owned subsidiaries of Comstock, will provide their best-in-class, customer focused property management services for BLVD Ansel. “BLVD Ansel is the latest addition to Comstock’s mixed-use, transit-oriented portfolio of high-quality, luxury residential assets in one of DC’s fastest growing employment centers,” said Christopher Clemente, Comstock’s Chief Executive Officer. “The Duball team did a tremendous job...