Northern Liberties, Equity Resource Investments Acquire MD Senior Housing

Northern Liberties, Equity Resource Investments Acquire MD Senior Housing
News| June 17, 2025| Jasmine Kilman
Washington DC

Northern Liberties and Equity Resource Investments have jointly acquired Arbor Crest, an 80-unit active adult apartment community located in Silver Spring, Maryland.

Built in 2004, Arbor Crest offers one- and two-bedroom residences for adults aged 62 and over, with amenities designed to support active and connected lifestyles. Situated just outside Washington, D.C., the property is well-located in one of the region’s most accessible suburban markets.

As part of the acquisition, Northern Liberties entered into a long-term agreement with Montgomery County through its PILOT (Payment In Lieu of Taxes) program. The structure will abate all county property taxes for 20 years in exchange for maintaining rent restrictions for residents earning between 45% and 70% of the area median income.

“By pairing public incentives with targeted capital upgrades and resident-focused services, we believe we can create value for both residents and the property,” said Sharif Mitchell, Co-Founder and CEO of Northern Liberties.

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