Comstock Expands Rockville Portfolio With Acquisition Of The Reed Four Hundred Seventeen Unit Transit Oriented Property
Comstock Holding Companies has completed the acquisition of The Reed, a 417-unit Class A multifamily property at 15955 Frederick Road in Rockville, Maryland. The transaction was executed on behalf of a joint venture between Comstock and a third-party Benefit Street Partners-advised institutional fund, with Comstock Partners, LC co-investing in the venture.
Two wholly owned Comstock subsidiaries, CHCI Residential Management and ParkX Management, will provide property management services for The Reed. Built in 2015, the asset sits directly adjacent to the Shady Grove Metro Station and within walking distance of restaurants, retail and outdoor spaces in Rockville’s King Farm neighborhood. The property offers one- to three-bedroom floor plans and on-site amenities that include a resort-style pool, fitness center with yoga and boxing studio, clubroom, multiple resident lounges, outdoor gathering areas and a private parking garage.
” This investment checks every box for us and we re thrilled to partner with Comstock on this exceptional asset, said Brian Buffone, Head of Equity Investments at Benefit Street Partners. Comstock has a proven track record as a best‑in‑class operator. We re excited to expand our relationship and look forward to creating value together. ”
The acquisition expands Comstock’s Rockville footprint to more than 900 apartment units across three transit-oriented properties, including BLVD Forty Four and BLVD Ansel. The company framed the purchase as part of its Institutional Venture Platform strategy.
” The Reed is exactly the type of institutional-quality asset we seek as we continue to scale our Institutional Venture Platform, said Tim Steffan, Chief Operating Officer of Comstock. This acquisition demonstrates our ability to deploy capital alongside a high-quality, strategic partner to acquire core, core+ and value-add assets. The Metro-adjacent location of The Reed fits perfectly in our transit-oriented portfolio. With our experienced property management teams in place, we see a clear opportunity to elevate the resident experience and drive value for all stakeholders. ”
For operators, investors and service providers focused on transit-oriented, institutional-quality multifamily assets, the transaction underscores continuing investor interest in properties that combine proximity to transit with lifestyle-oriented amenities and professional management. Comstock’s expanded operational presence in the Rockville submarket reinforces its role as an active regional owner, developer and manager in the Washington, D.C. area.