BETHESDA, MD - Archstone, a leader in apartment investment and operations, announced the acquisition by an Archstone sponsored partnership of Grosvenor Tower, a 237-unit apartment community in the Washington, D.C. Metropolitan Area.
Grosvenor Tower is located a short walk from the Grosvenor Metro Station on Grosvenor Place in the prestigious North Bethesda submarket. The high-rise apartment community will be renamed Archstone Grosvenor Tower.
“North Bethesda is a highly desirable place to live in Washington, D.C.,” said Charles E. Mueller Jr., Archstone’s president and chief operating officer. “Our talented operations team is excited about the community’s excellent location and is looking forward to demonstrating our commitment to providing best-in-class customer service.”
Residents living at Archstone Grosvenor Tower have convenient access to four major transportation arteries in addition to the Grosvenor Metro Station. The Capital Beltway, I-270, Route-355 and Route-187 are all within a short drive and offer direct access to major job centers in downtown Washington, D.C. and Bethesda. Among the large professional employers that are proximate are the National Institutes of Health, Walter Reed National Military Medical Center, the U.S. Food and Drug Administration, Lockheed Martin, Coventry Health Care and Marriott International.
Archstone Grosvenor Tower is also near numerous shopping, dining and entertainment destinations. The Music Center at Strathmore, downtown Bethesda, the Bethesda Row lifestyle center, White Flint Shopping Center, Rockville Town Square and the future Twinbrook Station mixed-use development offer residents a wide variety of high-end retail, food and entertainment options.
Archstone Grosvenor Tower also offers residents access to a host of convenient, quality-of-life-enhancing amenities and apartment features, which include additions that were made during a renovation in 2008. A 24-hour fitness center with a Pilates/dance room, swimming pool with sundeck, business center and walking/biking trail with direct access to the Metro are just a few of the amenities available to residents. Inside the Bethesda apartments, residents enjoy granite countertops, maple cabinetry, stackable washers and dryers, wood-plank flooring in the living room and balconies.
Archstone is one of the largest owners of high-quality apartment communities in the United States and is focused primarily on the acquisition, development, redevelopment, operation and management of apartment communities in select supply-constrained, coastal markets.