BULL RUN, VA–A source has told us that a six-asset, 1,428-unit apartment portfolio located in Virginia has traded for about $358 million. The seller of the portfolio, which is located in such markets as Bull Run, Lorton and Centreville, is a JV between Starwood Capital and Bainbridge Cos. Our source tells us the buyer is a JV between a private investor and JP Morgan.

The properties in the portfolio include:

• The Amberton, a 190 unit, 16-building apartment in Bull Run
• The 252-unit, 21-building Woodside, located in Lorton
• Reserve at Regency Park, which is located in Centreville and has 252 units across 25 buildings
• Westfield Village, also in Centreville. It has 228 units in 11 buildings.
• Reserve at Town Center, an 8-building, 290-unit apartment in Countryside
• Saddle Ridge in Ashburn, which has 216 units across 18 buildings

Starwood Capital and Bainbridge Cos. acquired the portfolio in 2011 spending about $300 million — a number that included the acquisition price, remodelling and upgrades. The original portfolio had 1,626 units and a sole property in Maryland — the 198-unit Clary's Crossing Apartments in Columbia.