WOODBRIDGE, VA–A source tells us that Dweck Properties is buying another apartment building in the Washington DC area: the Sutton, a 420-unit midrise building here. It paid $104 million, or $247,619 per unit, for the property. Dweck was unable to be reached for comment.
A JV between Crow Holdings and JLB Partners was the seller. The four-story property delivered last year and is now 86% occupied.
In December 2015 Dweck acquired another apartment in Woodbridge: Rolling Brook Village, a 732-unit apartment building. The property traded for $138.5 million or $189,208 per unit.
More recently Dweck sold the Ballston Metro Center, a 235,568-square foot office building directly above the Ballston Metro Station, for $69.5 million. Perseus Realty and ELV Assoc., acquired the building.
WOODBRIDGE, VA–A source tells us that Dweck Properties is buying another apartment building in the Washington DC area: the Sutton, a 420-unit midrise building here. It paid $104 million, or $247,619 per unit, for the property. Dweck was unable to be reached for comment.
A JV between Crow Holdings and JLB Partners was the seller. The four-story property delivered last year and is now 86% occupied.
In December 2015 Dweck acquired another apartment in Woodbridge: Rolling Brook Village, a 732-unit apartment building. The property traded for $138.5 million or $189,208 per unit.
More recently Dweck sold the Ballston Metro Center, a 235,568-square foot office building directly above the Ballston Metro Station, for $69.5 million. Perseus Realty and ELV Assoc., acquired the building.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
