Bernstein pays $31M for Gaithersburg apartments

D.C.-based Bernstein Management Corp. has acquired the Oakwood Gaithersburg apartment high rise in Gaithersburg for $31.3 million, or $230,147 per unit.

Bernstein bought the building from Archstone. Transwestern's Mid-Atlantic Multifamily Group in Bethesda represented Archstone.

The 136-unit, 11-story luxury high rise is located at 9890 Washingtonian Blvd. in Gaithersburg. It was built in 1989. The one- and two-bedroom units average about 840 square feet.