Berkadia is concurrently marketing a nearby similar-vintage asset (Saybrooke, 252 units), presenting investors with a unique opportunity to pursue a scaled portfolio or evaluate the assets on a standalone basis.
OPPORTUNITY TO ACQUIRE A 186-UNIT, HIGH-PERFORMING COMMUNITY IN GAITHERSBURG, OFFERING VALUE-ADD UPSIDE ACROSS 100% OF UNITS WITHIN A SUPPLY-CONSTRAINED SUBMARKET ANCHORED BY A TOP-RATED SCHOOL DISTRICT, MAJOR EMPLOYMENT CORRIDORS, PREMIER RETAIL DESTINATIONS, AND IMMEDIATE ACCESS TO I-270.
Quick Stats
Executive Summary
Berkadia is pleased to present the sale of The Verandahs (the “Property”), a 186-unit residential community built in 1989 and strategically located in Gaithersburg, Maryland with immediate access to I-270 and the region’s premier employment corridors. Located within one of the most compelling submarkets in the D.C. metro area, the Property offers investors an exceptional opportunity to acquire a high-performing asset with 100% value-add upside across every unit. With distinctive loft units, in-unit washers and dryers, and spacious floor plans averaging 976 SF, The Verandahs delivers a resident experience primed for outsized rent growth in one of the region’s most supply-constrained markets.
The Verandahs is situated within the Montgomery County Public Schools district, consistently ranked among the top school systems in the state of Maryland and the nation, including a #2 ranking among Best School Districts in Maryland and a #1 ranking for Best Teachers in Maryland (Niche, 2026). The surrounding submarket is anchored by a deep and diverse employment base, including major institutions such as NIST, AstraZeneca, Kaiser Permanente, Leidos, and the National Cancer Institute, all within a 15-minute drive of the Property.
The Property offers immediate access to I-270, connecting residents to major employment corridors throughout Montgomery County and the broader D.C. metro area. The Verandahs benefits from proximity to premier retail destinations including the $1.2 billion Lakeforest Mall redevelopment, Kentlands Market Square, Rio Lakefront, and Downtown Crown, providing residents with an exceptional array of dining, shopping, and entertainment options. With zero new market-rate supply expected to deliver within a three-mile radius through 2030, The Verandahs represents a rare opportunity to acquire a stabilized, high-occupancy asset with meaningful upside in one of the region’s most fundamentally sound submarkets.
UNIT MIX SUMMARY
Investment Highlights
100% OF UNITS OFFER VALUE-ADD UPSIDE
The Property offers investors a compelling value-add opportunity across all 186 units, with each of the three existing interior tiers positioned to benefit from a next-generation renovation program. With in-place rents reflecting over $400 of headroom to comparable properties in the submarket, new ownership has a clear runway to execute on this opportunity and capture meaningful rent premiums across the entire unit base.
MISSION ELIGIBLE ASSET
The Verandahs rents introduce the possibility for advantageous financing initiatives, with almost 100% of units at 80% or less AMI rents and 60% of the units at 60% or less AMI rents. This rent profile positions the asset to qualify for a range of mission-driven lending programs, potentially reducing borrowing costs and improving overall returns.
PRICED BELOW REPLACEMENT COST WITH ZERO NEW SUPPLY
Priced at over 40% below replacement cost, the Property offers investors a strong basis in one of the most fundamentally sound submarkets in the D.C. metro area. This attractive entry point is further reinforced by zero new market-rate multifamily deliveries within a three-mile radius through 2030, creating a formidable barrier to new competition and supporting continued rent growth and occupancy stability.
PREMIER EMPLOYMENT CORRIDOR
The Property sits at the epicenter of one of the most dynamic employment markets in the nation, with direct I-270 access to a dense concentration of world-class employers. Within a 15-minute drive, residents can reach NIST (~4,000 employees), AstraZeneca (~3,000 employees), the National Cancer Institute (~3,000 employees), and Leidos (~1,500 employees), underpinning exceptional and durable renter demand.
TOP-RATED MONTGOMERY COUNTY PUBLIC SCHOOLS
The Verandahs is situated within the Montgomery County Public Schools district, rated “A” overall and “A+” for College Prep by Niche (2026), and ranked #1 for Best Teachers and #2 for Best School Districts in Maryland. With 14 highly rated public schools within a three-mile radius, the Property is ideally positioned to attract the family-oriented renter demographic that defines this submarket.
EXCEPTIONAL RETAIL AND LIFESTYLE AMENITIES
The Verandahs residents enjoy outstanding access to premier destinations on all sides, including the transformative $1.2 billion Lakeforest Mall redevelopment, Kentlands Market Square, Rio Lakefront, and Downtown Crown, offering well over 1 million SF of combined retail, dining, and entertainment. Seneca Creek State Park’s 6,300 acres of trails, fishing, and recreation round out an exceptional live-work-play environment.
Property Surroundings
Photo Gallery
Contact
Office
DC Metro
4445 Willard Ave., Suite 1200
Chevy Chase, MD 20815
Investment Sales
BRIAN CRIVELLA
Senior Managing Director
301.580.6685
[email protected]
BILL GRIBBIN
Managing Director
301.580.6486
[email protected]
YALDA GHAMARIAN
Managing Director
240.462.2332
[email protected]
JACK CANEPA
Associate Director
301.941.4629
[email protected]
Mortgage Banking
PATRICK MCGLOHN
Senior Managing Director
301.941.4610
[email protected]
BRIAN GOULD
Managing Director
301.941.4616
[email protected]
9308 Willow Creek Drive
Montgomery Village, MD
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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