The Brittany Portfolio Brings In $106M

POTOMAC, MD-A collection of four apartment communities in the Metropolitan Washington, DC region known as the Brittany Portfolio has been sold in a $106-million deal. The package, which accounts for a total of more than 1,000 residential units in the Northern Virginia and Western Maryland areas, fetched approximately $99,000 per-unit in the deal. On behalf of property owner the Stephen A. Goldberg Co., real estate brokerage firm Ideal Realty Group orchestrated the sale to a joint venture involving Ross Development & Investment and GMAC.

One of the four properties that makeup the Brittany Portfolio is the 408-unit Brittany apartment community in Arlington, VA. Located at 4500 S. Four Mile Run Dr., the Brittany was built in 1975 and is currently assessed at a value of $37.5 million. It last changed hands in 1985 when the Goldberg Co. acquired it for nearly $23 million.