The Mosby Makes a Move to a New Portfolio

FAIRFAX, VA-Ownership of the mixed-use complex known as the Mosby has changed hands with Landfall Capital LLC’s acquisition of the 205,000-sf property from a partnership involving Investcorp and an Insignia Financial Group subsidiary. Terms of the deal have not been disclosed, however, according to city tax records, the property carries a 2003 assessed value of $20.2 million.

Offering a mix of commercial and residential space, the Mosby features a 108,000-sf office tower and a 97,000-sf 110-unit apartment structure. Both buildings are of class B quality, and consist of six stories and five stories, respectively. At the time of the transaction, the property was leased up to a 94% occupancy level. “The buildings are in an excellent location on Main St. in Old Town Fairfax, are attractive and have been well maintained,” says Landfall Capital president Robert Freeman. “With additional investment and repositioning under our value added approach, we are confident that both properties will significantly outperform the market.”