Residences at East Church

Frederick, MD

Multifamily - Development

Residences at East Church

MULTIFAMILY - DEVELOPMENT

ACRES Capital Corp. has originated a $83.725 million loan to fund the construction and stabilization of Residences at East Church, located at 605 East Church Street in Frederick, Maryland.

Frederick County has become known as a leading national location for the bioscience industry and is home to numerous prominent employers, including Fort Detrick. Residences at East Church will also be bolstered by its vicinity to both Baltimore and Washington DC and is a 15-minute walk from Downtown Frederick, which features eclectic coffee shops, high-end dining, and craft breweries.

Residences at East Church will feature:

5, Four-story multifamily buildings totaling 350 units
525 Parking spaces
A clubhouse, swimming pool and fitness center

The property’s top-quality exterior, interior, and amenity finishes will put Residences at East Church at the top of the competitive market for multifamily.

$83.725 Million

Loan Amount

Construction Loan

Loan Product

“As home to one of the largest clusters of bioscience companies in Maryland, Frederick County has become a leading biotech and life sciences community. This county-wide employment growth, coupled with other area demand drivers, fuels the need for quality housing options like the Residences at East Church.”

- Mark Fogel

ACRES Chief Executive Officer and President

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ACRES Capital, LLC (“ACRES”) is an SEC-registered investment adviser with an office in Uniondale, New York. ACRES and its representatives are in compliance with the current registration and notice filing requirements imposed upon SEC-registered investment advisers by those states in which ACRES maintains clients. SEC registration is not an endorsement of the firm by the Commission and does not mean that the adviser has attained a specific level of skill or ability.