Repositioning a property in our value-add programme to net zero standard

North Bethesda, Maryland, is a special neighbourhood, alive with energy from residents who appreciate the natural beauty and the community that’s established here over time. 

Adding to our multi-family value-add portfolio this year, we acquired a 237-unit apartment building which we renamed ‘The Magnolia’ as part of the value-add repositioning programme.

We are investing in the 37-year old, 21-storey building with upgrades to modernise common areas and apartment interiors. We are making strides towards our net zero commitment by improving the building management system, converting to electric heat pumps and adding electric vehicle charging stations, LED lighting and low-flow water fixtures. 

The supply chain diversity programme we will implement will hopefully ensure that minority and women-owned vendors are fairly represented in the remodelling work and ongoing building operations.

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