NOVO Properties Announces New Acquisition in Brookland neighborhood of Washington, DC

Washington, DC – January 2020

 

NOVO Properties (NOVO) is pleased to announce the acquisition of The Glenwood Apartments, a 90-unit multi-family property in the Brookland neighborhood of Northeast, Washington, DC.

NOVO teamed with the Glenwood Apartments tenant’s association to execute a development agreement and take an assignment of the tenants right to purchase under the TOPA statute. The tenant association was looking for a reputable partner to purchase The Glenwood and NOVO has become a recognized leader in the repositioning and renovation space.

“We love the location of The Glenwood Apartments,” stated Greg Selfridge, Managing Partner of NOVO. “It’s really at the intersection of multiple growing neighborhoods – Brookland, Edgewood and the Rhode Island Avenue corridor. The building has been well-maintained over the years and really just needs an experienced team to help bring the property to the next level.”

The Glenwood Apartments represents NOVO’s most recent acquisition after executing on two other tenant association partnerships in 2019.

For more information about this acquisition, please contact NOVO Properties at (301) 233-9090, or visit the NOVO Properties website at www.LiveNovo.com.

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NOVO Properties is a multi-family owner, developer and property management company headquartered on Capitol Hill in Washington, DC. NOVO currently owns and manages a portfolio of approximately 2,000 apartment homes and development land throughout Washington, DC, Fairfax, Bethesda, Chicago, Charleston and Maryland’s Eastern Shore.