ROCKVILLE, MD–More deals have closed in the Washington DC area, including an apartment building in Rockville, MD, and a retail/ office portfolio in Old Town Alexandria.
The apartment building, a deal that closed in November, is the the eaves Rockville, now rebranded as the Villas of Rockville. The buyers are Cove Property Management and Advantage Properties and the seller was AvalonBay Communities. The 210-unit building traded for $61.4 million, or $292,381 per unit. Cove and Advantage plan to invest $3.5 million in renovating the units.
We have also learned that PMA Properties has sold its eight-asset Old Town Alexandria retail and office portfolio for approximately $59 million. The buyer is an LLC.
The portfolio consists of 805 King St., 810 King St., 814 King St., 815 King St., 101 N Columbus St., 210 N Lee St., 816 N St Asaph St., and 900 Prince St.
ROCKVILLE, MD–More deals have closed in the Washington DC area, including an apartment building in Rockville, MD, and a retail/ office portfolio in Old Town Alexandria.
The apartment building, a deal that closed in November, is the the eaves Rockville, now rebranded as the Villas of Rockville. The buyers are Cove Property Management and Advantage Properties and the seller was AvalonBay Communities. The 210-unit building traded for $61.4 million, or $292,381 per unit. Cove and Advantage plan to invest $3.5 million in renovating the units.
We have also learned that PMA Properties has sold its eight-asset Old Town Alexandria retail and office portfolio for approximately $59 million. The buyer is an LLC.
The portfolio consists of 805 King St., 810 King St., 814 King St., 815 King St., 101 N Columbus St., 210 N Lee St., 816 N St Asaph St., and 900 Prince St.
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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.
