WOODBRIDGE, VA–National investment group Bell Partners has purchased Stonebridge Terrace, a 308-unit apartment community here. The price was not disclosed but a source tells us it traded for $75.8 million. The seller was White/Peterman Properties.
CBRE brokered the sale of the property, which is located at 14701 River Walk Way.
The property's attributes include being within walkable distance to Stonebridge at Potomac Town Center and proximity to major employers including Fort Belvoir, Quantico, and Sentara's Northern Virginia Medical Center.
“Stonebridge Terrace offers new ownership upside through strategic management decisions that take advantage of a submarket showing positive rental trends,” said Jonathan Greenberg, SVP at CBRE in a prepared statement.
Besides Greenberg, Bill Roohan, Robert Dean, Mike Muldowney, Yalda Ghamarian, and Tom Leachman represented the seller. This is the second Class A asset the CBRE Team has sold in the Woodbridge market in less than 12 months.
WOODBRIDGE, VA–National investment group Bell Partners has purchased Stonebridge Terrace, a 308-unit apartment community here. The price was not disclosed but a source tells us it traded for $75.8 million. The seller was White/Peterman Properties.
CBRE brokered the sale of the property, which is located at 14701 River Walk Way.
The property's attributes include being within walkable distance to Stonebridge at Potomac Town Center and proximity to major employers including Fort Belvoir, Quantico, and Sentara's Northern
“Stonebridge Terrace offers new ownership upside through strategic management decisions that take advantage of a submarket showing positive rental trends,” said Jonathan Greenberg, SVP at CBRE in a prepared statement.
Besides Greenberg, Bill Roohan, Robert Dean, Mike Muldowney, Yalda Ghamarian, and Tom Leachman represented the seller. This is the second Class A asset the CBRE Team has sold in the Woodbridge market in less than 12 months.
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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.
