ALEXANDRIA, VA – Washington D.C.-based real estate investment and management firm Willow Creek Partners has acquired a 189-unit multifamily community in Alexandria, VA for $50.1 million from Baltimore-based, real estate investment and management company Continental Realty Corp.
The acquired asset, 101 N. Ripley Apartments, offers one-, two- and three-bedroom units. It is located near the intersection of Rte. 236 and Rte. 401, near Old Town, VA and less than 10 minutes from Washington D.C.
In 2011, the asset, formerly known as Parkwood Court, was acquired on behalf of CRC Fund III General Partner LLC for $23 million, equating to $121,000 per unit. The firm sold the asset for a purchase price that equates to $265,000 per unit.
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Ingrid Tunberg
Ingrid Tunberg sits on the editorial team as a coordinator and reporter for Real Estate Forum and GlobeSt.com. She is responsible for writing stories, assisting with industry awards and marketing nomination events. Previously, Ingrid worked as a copywriter across various industries throughout New York City and Chicago.
