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.
The Washington DC area has seen an uptick in deal closings lately. Last week we reported that 3333 Wisconsin Ave. traded. We have since learned the price paid was $42.5 million, or $425,000 per unit.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
