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Flint Hill Portfolio Sells for $31M | Loudoun Gateway V for $21M

VIENNA, VA—There was an office and apartment trade in Northern Virginia's outer rim. Further south, one company plans to break ground on a multifamily project.

By Erika Morphy | erikamorphy | | Updated on February 08, 2016
Flint Hill Flint Hill
Source: Lerner Sells Flint Hill Office Buildings for $31M VIENNA, VA—A source has told GlobeSt.com that Lerner Enterprises has sold the two offices that comprise Flint Hill Park: One Flint Hill, a 6-story, 132,000-square foot office building and Four Flint Hill, a 160,000-square foot office building. The offices are trading for approximately $31 million to an LLC. Flint Hill Park also includes The Falls at Flint Hill, a 246-unit luxury apartment community. An inquiry by GlobeSt.com to Lerner Enterprises was not returned.
Loudoun Gateway V Loudoun Gateway V
EnTrust Realty Advisors Sells Loudoun Gateway V for $21M STERLING, VA—Lombard, IL-based EnTrust Realty Advisors has sold Loudoun Gateway V, a 128,477-square foot office building to a New York-based private investment group for $20.6 million. The property is located in the Loudoun Gateway Corporate Park and was developed by The Alter Group, an affiliate of EnTrust, in 2008.  James I. Clark III, EnTrust’s Managing Principal, announced the transaction. EnTrust represented the seller, Alter, and vetted interest from a large national investor base. The property was purchased by an East Coast investor looking to expand its Washington DC portfolio, according to EnTrust Managing Principal James I. Clark III. “With the purchase they are able to create efficiencies among other recent acquisitions in the area.”
Valor Apartment Homes rendering Valor Apartment Homes rendering
S.L Nusbaum to Develop Valor Apartment Homes for $25M NORFOLK, VA—S.L. Nusbaum Realty Co. has acquired an 11-acre parcel on Noble Way in Fredericksburg, VA. It plans to develop a 128-unit apartment complex called Valor Apartment Homes. Units will be available in the 1st quarter of 2017. Virginia Housing Development Authority, Wells Fargo, and TowneBank provided financing for the project. Development costs will be $25 million

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