ARLINGTON, VA–GlobeSt.com has learned from two separate sources that AvalonBay Communities has acquired a 269-unit luxury apartment building here for $102 million, or $379,182 per unit.
The property is the Halstead Arlington Apartments, which was developed in 2009 and sold by the DSF Group, a private real estate investment firm with offices in both Boston and Washington DC.
A spokesperson for AvalonBay declined to comment for this article.
At the start of this year, the DSF Group sold Halstead 800 Madison, a 217-unit, apartment community in Hoboken, NJ to the REIT for $130 million.
That property was also recently developed, in 2008, and occupies a full city block.
Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.
ARLINGTON, VA–GlobeSt.com has learned from two separate sources that AvalonBay Communities has acquired a 269-unit luxury apartment building here for $102 million, or $379,182 per unit.
The property is the Halstead Arlington Apartments, which was developed in 2009 and sold by the DSF Group, a private real estate investment firm with offices in both Boston and Washington DC.
A spokesperson for AvalonBay declined to comment for this article.
At the start of this year, the DSF Group sold Halstead 800 Madison, a 217-unit, apartment community in Hoboken, NJ to the REIT for $130 million.
That property was also recently developed, in 2008, and occupies a full city block.
Steady gains in the US economy have resulted in net positives for the multifamily sector—will this wave continue for the foreseeable future? What's driving development and capital flows? Join us at RealShare Apartments on October 19 & 20 for impactful information from the leaders in the National multifamily space. Learn more.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
