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Washington REIT Acquires Columbia Pike Apartment for $167M

ARLINGTON, VA—The three-building complex has 711 units and the REIT plans to build a fourth building with 360 units.

By Erika Morphy | Updated on July 06, 2015

ARLINGTON, VA—Washington REIT clearly believes that demand for apartment living in Columbia Pike has nowhere to go but up. The locally-based REIT has announced it has acquired a three-building, 711-unit multifamily complex here for $167 million — and that it plans to build a fourth building on the site that will add 360 additional units.

Bainbridge Cos. is the seller.

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