SSR Realty, a MetLife subsidiary that is also based in San Francisco, made the sale in its capacity as an advisor to California State Teachers Retirement System, which had been in possession of the property since paying $18.7 million for it in 1999.

Abbotts Run occupies a well-located 10-acre parcel in the city's Rte. 1 corridor, just a few minutes from Old Town Alexandria and Washington, DC. Developed in 1988, the property consists of 10 three-story structures and also features a clubhouse, fitness center, and tennis and racquetball courts.

"While no sale goes forward without issues between the parties or about the asset, both purchaser and seller were aggressive in working out viable solutions to each hurdle that we all had to clear," says Potomac, MD- Ideal Realty president Allen Manesh. The teamwork resulted in the substantial sales price of approximately $142 per sf.