The Premier Apts | 8711 Georgia Avenue (Silver Spring, MD)

The Premier Apartments was the Obsidian Catalyst Fund’s fourth investment, and its first co-GP investment. The asset is located in Silver Spring, MD near the District line. This investment will preserve affordability through restricting half of the units at affordable at 60% of AMI in exchange for a tax abatement. The property also has a small retail space which is currently occupied by Wells Fargo, a tenant that has strong corporate backing.
The GP, BrookWynn Capital (BC), was founded by Calvin Jones in 2024. Calvin has underwritten, closed, and financed over $1 billion in multifamily properties. BC owns and manages over 300 units. In addition, Affordable Homes & Communities (AHC) is a local non-profit that will also be a co-GP, and will oversee asset management to ensure tenants qualify to live in the property. AHC brings deep expertise to property operations as it owns 8.700 across 55 communities in the DC metro area.