Sentinel Real Estate Acquires 297-Unit Luxury Apartment Community The Perry in Potomac, Maryland
Sentinel Real Estate has acquired The Perry, a luxury multifamily community located at 12430 Park Potomac Avenue in Potomac, Maryland, approximately 10 miles northwest of Downtown Washington, DC, the firm announced June 17.
The property comprises two five-story buildings totaling 297 residential units and 8,610 square feet of ground-floor retail space. Completed in 2016, The Perry offers one-, two- and three-bedroom residences. Financial terms of the transaction were not disclosed.
Property Details and Amenities
Residences at The Perry feature granite countertops, designer cabinetry, hardwood-style flooring, stainless steel appliances and open-concept layouts. In-home amenities include Nest thermostats, expansive windows, USB outlets, full-sized washers and dryers and private balconies in select units.
The community's shared amenity package includes a swimming pool with sun deck, outdoor dining and grilling areas, a clubroom with catering kitchen, a fitness center, a Zen garden, a private conference room, a business center and an entertainment lounge. The property also features a fenced dog park and a dog grooming spa.
The property offers walkable access to a Harris Teeter grocery store and local dining options.
Location and Market Positioning
The Perry's location provides direct access to major transportation corridors including I-270, I-495 (the Capital Beltway) and River Road, connecting residents to employment centers across the broader Washington, DC metropolitan region, including Bethesda, Tysons Corner, Rockville and Downtown Washington, DC.
The surrounding area draws employers across the biotechnology, government, healthcare, financial services, research and technology sectors. Potomac is recognized for its highly educated population, top-performing schools and proximity to upscale retail and dining destinations such as Bethesda Row and Park Potomac.
"The Perry represents a compelling opportunity to invest in a well-located residential community within one of the most desirable submarkets in the country," said George Tietjen, Managing Director of Sentinel. "Its combination of modern construction, thoughtfully curated amenities and proximity to key employment and academic centers contributes to an appealing offering for residents seeking a high-quality living experience. The asset is also positioned within a market characterized by strong fundamentals, including limited new supply and sustained demand for high-quality rental housing."
About Sentinel Real Estate
Sentinel Real Estate has been active in U.S. multifamily acquisitions as well as build-to-rent development initiatives, including projects in Australia, according to the firm's recent announcements.
The deal was reported by Connect CRE and REBusiness Online, among other commercial real estate trade publications, at the time of announcement. Neither the buyer nor any brokers disclosed a sale price or capitalization rate in connection with the transaction.