Private real estate investor, GoodHomes, to develop new 13-storey multifamily scheme in Silver Spring, Maryland, following a $14.7m loan from OakNorth. The loan will support the conversion of a vacant 13-storey hotel into a new multifamily scheme in Silver Spring, Maryland. Located at 8727 Colesville Road, with direct transit access via the Red Line Metro and major bus routes to Washington DC, the site will offer 227 highly amenitized multifamily units, offering residents a fitness center, rooftop pool, co-working space, tenant lounge, package room and storage facilities.
Above GoodHomes: Headquartered in New York, NY, GoodHomes is a leading vertically integrated, private real estate investment company, focused on acquiring well-located, under-performing hospitality and senior housing assets and converting them into essential housing for America’s workforce. With decades of experience throughout its team in construction, design, management, and development, the firm has been involved in residential development and redevelopment projects, including 12 hotel conversions, consisting of more than 5k residential units with a value in excess of $5bn.