Sweden's Akelius Expands US Investment Profile With Foray Into DC

2900 Adams Mill Rd.

WASHINGTON, DC—A multifamily property in the Mt. Pleasant/ Adams Mill part of town has traded for $197,674 per unit or $8.5 million. The property, known as Reg Rosa Plaza, is located at 2900 Adams Mills in about as ideal of a setting one could get in the city: next to Rock Creek Park and overlooking the National Zoo. The seller was a local investor, says Michael T. Sims, managing director of ARES LLC, an investment real estate services firm in Mount Pleasant, who represented the seller. The buyer was the US division of the Swedish investment firm Akelius Residential Property. Last year it began acquiring apartment assets in the US with plans to make about $1 billion of transactions. It started out in Brooklyn and Boston last year acquiring a number of properties, but now it has moved into the Mid-Atlantic, Sims told GlobeSt.com. The activity, though, in the US, is just a sideshow for the Stockholm-based Akelius, which is one of the largest real estate companies in Sweden. This year it has acquired apartment properties in cities in Germany, Canada and Sweden. It also acquired, in January 2016, a four-asset portfolio in Boston for $63 million after making a number of acquisitions in the region last year. And now the fund has come to DC. It will be interesting to see what else, if anything, it choose to buy.