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Kettler in the News
January 13, 2016
Kettler To Begin Construction on the Metropolitan, a Luxury Apartment Community in Rockville, MD
Tysons, VA. – Kettler, one of greater Washington, D.C.’s leading real estate development and property management companies and Cornerstone Real Estate Advisers, acting on behalf of an institutional investor, announced today that it has closed on a land and construction loan with lender Wells Fargo Bank. Construction will begin on The Metropolitan at Rockville Town Center, a 275-unit mid-rise luxury apartment complex in the heart of Rockville at the beginning later this month.
The Metropolitan at Rockville Town Center will be located at 255 North Washington Street, neighboring Rockville Town Square, a bustling dining, entertainment and shopping district. The midrise luxury apartment community offers everything from single bedroom lofts to three bedroom units. The community will boast of a variety of retail and resident amenities, as well as open-spaces that contribute to the urban scene.
“Rockville houses a number of rapidly growing biotechnology and software companies and continues to demonstrate why it is such an important city in the Baltimore-Washington metropolitan area,” said Asheel Shah, president of multifamily development at Kettler. “We want to be where there is growth and we think the Metropolitan puts us in the middle of the action where demand continues to be robust for quality multi-family housing.”
The building is designed to respond to the character and activity in the neighborhood and will include an enhanced streetscape experience for pedestrians with generous landscaping and sidewalks to improve connectivity. The Metropolitan will offer an array of amenities for residents including a fitness center and yoga room, pet grooming room, bike storage, two outdoor courtyards, a swimming pool, outdoor grilling and a two-story entertainment lounge with terrace.
“The Metropolitan will be a great addition to Rockville,” said Pamela Tyrrell, senior vice president of multifamily development for Kettler. “Its upscale amenities will cater to the needs of the residents who want the best, and its location fits in well with our strategy to provide luxury living accommodations in a walkable, urban setting near transit.”
The project team includes R2L Architects and interior designers, Parker Rodriguez, landscape architect, and Macris, Hendricks and Glascock, civil engineers. The Metropolitan will be built following a green building design.
Kettler and Kettler Management are owners, operators, and developers of apartments, condominiums, and mixed-use projects in the Washington, D.C. metropolitan area and throughout the mid-Atlantic region. Headquartered in Tysons, VA, the company has developed nearly 24,000 multifamily units, 5 million square feet of commercial space, more than 46,000 homes in 25 master-planned communities and many of the region’s premier mixed-use communities. Kettler Management successfully manages over 30,000 apartments for Kettler and 3rd party clients from New York to the Carolinas and Texas and offers a full range of services to corporate and institutional real estate owners. For more information, visit www.kettler.com.
About Cornerstone Real Estate Advisers
Cornerstone Real Estate Advisers LLC, with subsidiary and affiliate offices in the U.S., UK, Europe, and Asia, is one of the largest global real estate investment managers. It provides core and value-added investment and advisory services, including a comprehensive suite of private and public real estate debt, equity and securities expertise and services, to institutional and other qualified investors around the globe. Cornerstone is a member of the MassMutual Financial Group. For more information, visit www.cornerstoneadvisers.com.