Ballstone Place. Photo by AvalonBay.
ARLINGTON, VA–The Ballston Place transaction that we reported was pending earlier this summer has closed with Akelius Residential AB buying the 382-unit apartment complex for $170 million, or $445,026 per unit.
The mid-rise property is 95% occupied and also has about 5,000 square feet of street retail.
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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.
