WASHINGTON, DC–Jamestown announced it has acquired The Ellington from TH Real Estate. The company did not disclose the price but a source tells us the 190-unit apartment traded for $118.6 million or $624,342 per unit.
The last time the Ellington traded was in 2011 for $100 million.
Built in 2004, the Ellington is located on 13th Street in the U Street neighborhood. The apartment building also has 16,760 square feet of retail. Jamestown is planning renovations to the common spaces and retail through 2019.
Jamestown is stepping up its investments in multifamily across the country, the firm says, with The Ellington purchase following 88 Leonard and 2000 Broadway.
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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.
