Sawyer Flats

A well located multi-family community with value-add potential

Constructed in 1989, this multi-family community appealed to Grosvenor for its value-add potential in a desirable submarket location with strong economic drivers and attractive pricing.

Our local asset management team lead a $12.1m repositioning and rebranding program  in 2016 to update unit interiors, landscaping, and resident amenities which efforts improved both rents and occupancy. 

Thoughtful improvements added higher-quality unit finishes and the addition of “tot lots,” new outdoor fitness stations, and fireside social lounges, which resulted in NAIOP awarding it the 2018 Best Suburban Renovation Award - D.C. Region.

To capitalize on attractive demand metrics, we sold the property in 2021 to pursue new value-add residential opportunities in the region.

ESG Impact

  • Several affordable homes offered for rent within in the community
  • Engaged local minority- and family-owned general contractor for property improvements


Property type: Multi-family rental

Location: Gaithersburg, MD

Acquired: 2015

Sold: 2021

Size: 646,522 sq. ft.  I  648 units

Purchase price: $146m

Capital invested: $12.1m

Awards: 2018 NAIOP Best Suburban Renovation - DC Region

Group 2