White Star Investments Announces Sale of Potomac Gardens to Spectrum Retirement Communities

BETHESDA, Md., June 17, 2021 /PRNewswire/ -- White Star Investments, a privately owned real estate investment and operating firm, has finalized the sale of its Potomac Gardens property at 9545 River Road Potomac, MD 20854 for $11.2 million to Spectrum Retirement Communities, developer, owner and operator of retirement, assisted living and memory care facilities. Currently the home of Potomac Petals and Plants, the 5.96-acre property was previously occupied by Behnke's Nursey.

"This parcel of land on River Road is one of the most recognizeable assets in the neighborhood. As a leader in retirement living, we are confident Spectrum will be an asset to the community and further Potomac Village's longstanding dedication to quality of life," said Rueben Bajaj, White Star CEO/Principal. "Spectrum's vision of excellence and commitment to care aligned closely with White Star's own mission to provide value to the place we call home."

Jacob Ermer of Hogan Companies represented White Star.

About White Star Investments:

White Star Investments is a privately owned real estate investment and operating firm based in Bethesda, Maryland. White Star specializes in acquiring under-marketed retail real estate investments and proactively building asset value. At White Star our goal is to be the most innovative owner and developer of quality real estate assets in the markets.

SOURCE White Star Investments