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GAITHERSBURG, Md. — HH Venture, a limited Partnership led by MRK Partners and operated by a Maryland native, recently transformed the Hyatt House Hotel in Gaithersburg into a 140-unit seniors housing community.
MRK Partners selected The Franklin Johnston Group to operate the property, which is named Hillside Senior Apartments. The units are restricted to residents age 62 and older.
HH Venture LP worked with the City of Gaithersburg to rezone the property from an extended-stay hotel. Seeking to combat high housing costs in Montgomery County, the property offers affordable rental rates.