Akelius was among the few foreign buyers to invest in the DC area's apartment assets last year. It acquired the Century, an 88-unit apartment building located at 2651 16th St NW, for $16.5 million as well as Reg Rosa Plaza, located at 2900 Adams Mills, for $8.5 million.

The company became active in the US in 2015, announcing plans to invest about $1 billion. It started out in New York City and Boston going on to acquire 14 and 11 properties, respectively, in those markets.

Ultimately, Greysteel procured more than 20 offers for Whispering Oaks, which was built in 1958 and is located at 1310 North Oak St., in the Rosslyn neighborhood of Arlington. Greysteel's W. Kyle Tangney, who helped arrange the deal, gave a hint about its appeal to Akelius in his prepared statement.

Mid-size multifamily properties in Northern Virginia continue to garner attention from fund and private capital buyers. By highlighting the more favorable multifamily operating regulations in Virginia as compared to the District of Columbia and the economic strength of the DC MSA, we were able to draw in a broader range of investors who might typically be looking for larger assets.

ARLINGTON, VA–Akelius, a Stockholm-based multifamily investor and operator, has bought a 49-unit apartment building here for $13.5 million, or $275, 510 per unit, according to a source.

Greysteel announced the sale of the property, which is called Whispering Oaks, having represented the sellers, 401 Commonwealth LLC and HJL Properties LLC in the transaction. It didn't disclose the seller, however, which was perhaps the most intriguing element of the deal.

Last year, foreign investors had little appetite for the Washington DC area's multifamily asset class, according to Newmark Grubb Knight Frank, accounting for only 4% of apartment sales, down from the 15% in 2015 and below the 6% across the US in 2016.

The reason is a bit of a mystery as foreign investors remained bullish about Washington DC's office asset class. As a group they accounted for 37% of office sales, up from 23% in 2013. That percentage was also nearly double the ratio of cross-border office investment experienced throughout the United States, at 21% for 2016, NGKF said.

Akelius was among the few foreign buyers to invest in the DC area's apartment assets last year. It acquired the Century, an 88-unit apartment building located at 2651 16th St NW, for $16.5 million as well as Reg Rosa Plaza, located at 2900 Adams Mills, for $8.5 million.

The company became active in the US in 2015, announcing plans to invest about $1 billion. It started out in New York City and Boston going on to acquire 14 and 11 properties, respectively, in those markets.

Ultimately, Greysteel procured more than 20 offers for Whispering Oaks, which was built in 1958 and is located at 1310 North Oak St., in the Rosslyn neighborhood of Arlington. Greysteel's W. Kyle Tangney, who helped arrange the deal, gave a hint about its appeal to Akelius in his prepared statement.

Mid-size multifamily properties in Northern Virginia continue to garner attention from fund and private capital buyers. By highlighting the more favorable multifamily operating regulations in Virginia as compared to the District of Columbia and the economic strength of the DC MSA, we were able to draw in a broader range of investors who might typically be looking for larger assets.