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The REIT also acquired a Falls Church apartment building last month for $43 million.
Waterton is planning a capital improvement program at the 404-unit complex.
"This strategically-located tract presents a tremendous opportunity to continue our e-commerce and industrial building program in the Mid-Atlantic region."
WASHINGTON, DC--Deals and news from around the region.
"You get more yield in the BWI market compared to Los Angeles or New Jersey."
"The federal government is not as big an actual player in public infrastructure as commonly thought."
Capital Investment Advisors acquired the 388-unit property in a value add play.
The Trove is a 401-unit complex consisting of three seven-story buildings.
“1333 H Street was a great challenge for us to integrate the textured, historic elements with light and edginess.”
"We are very pleased with the overwhelming level of support that we received from both RLJ and FelCor shareholders."