Chicago, IL – April 24, 2025 — 29th Street Capital (29SC), a leading real estate investment and management firm, and Willton Investment Management have closed on the acquisition of Fenwick Apartments, a 311-unit, Class A- multifamily community in downtown Silver Spring, Maryland. Built in 2014 and currently 96.8% occupied, Fenwick represents a high-quality, institutionally owned asset in an affluent submarket in the Washington, D.C. metro area.

Located just three blocks from the Silver Spring Transit Station, Fenwick currently provides convenient access to downtown Washington. With the anticipated delivery of the Purple Line in 2027, Fenwick will offer direct access to Bethesda and the I-270 Tech Corridor (one of the largest biotechnology and life sciences clusters in the country). The property is LEED Gold certified and boasts premium amenities such as a resort-style pool, a state-of-the-art fitness center, a rooftop lounge with a living green wall, and a business center.

“This acquisition aligns with our strategy of buying high quality, well located, assets,” said Henry Moore, Vice President of Acquisitions at 29th Street. “Fenwick pairs institutional quality construction with exceptional access to major employment centers in the MSA, to be further enhanced with the delivery of the new Purple Line in 2027. Located in a pocket with very little in anticipated near-term supply, Fenwick offers our investors a compelling investment opportunity with long-term upside.”

Chris Luo, Chief Executive Officer of Willton Investment Management, said “We are very excited to begin this new partnership with 29^th Street Capital and grow our investment footprint in Washington, D.C. metro area. Fenwick will benefit from best-in-class sponsorship, market-leading operations, and convenient access to employment and amenities in Downtown Silver Spring. We are grateful to the entire 29SC team for their diligence, professionalism, and commitment to excellence throughout the acquisition process.”

Key Highlights:

• Institutional Quality: 2014 mid-rise construction, transit oriented, LEED Gold certification.
• Prime Location: High quality local area demographics, walkable to major public transportation systems, short commutes to several major MSA employment centers.
• Portfolio Synergies: Complements 29SC’s existing assets in the region and further enhances operational scale.
• Light Value-Add Opportunity: Planned enhancements to the common and amenity areas.
• Attractive Basis: Purchase price offers a meaningful discount to replacement cost, insulating the property from additional near-term supply.
• Elevated Cost of Home Ownership: Starting rents offer a meaningful discount to homeownership given elevated home prices and high mortgage rates.

The property will be professionally managed by 29th Street Living, the in-house property management arm of 29SC, ensuring a high-quality resident experience and seamless integration with the firm's existing operations in the region.

About 29^th Street

Headquartered in Chicago, 29th Street is a privately held investment management firm focused on multifamily real estate. We acquire, develop, renovate, and manage multifamily communities nationwide, deploying technology to enhance the resident experience and optimize property performance. Backed by more than 15 years of delivering above-market returns across over $5.1 billion in assets, our culture is driven by our Mission, Vision, and Values. The firm’s portfolio spans multiple states and encompasses a diverse range of property types. In addition to our core investment and development expertise, 29th Street Living serves as our dedicated property management business unit, ensuring comprehensive end-to-end services for every property under management. Learn more about 29th Street at 29SC.com.

About Willton Investment Management

Willton Investment Management is the operating and investment arm of Willton Group, a U.S.-based family office focused on creating better living communities. Through its platform, Willton develops rental apartment communities and provides joint venture equity to top tier institutional sponsors in both residential developments and existing multi-family properties across the United States. Willton has invested in more than 6,000 units across 11 major American MSAs since 2017. Each Willton investment is distinguished by innovative design, thoughtful planning, lasting value, and superior execution overseen by the company’s vertically integrated team of industry professionals. For media inquiries or to learn more about Willton Investment Management, please visit www.willtongroup.com.

For media inquiries, please contact:

Sharie Damm

Director of Communications & Public Relations

29th Street

sdamm@29SC.com