Northern Virginia apartment communities are a hot commodity. Transwestern Commercial Services’ recently brokered the sale of four Class-A communities, valued at a total of $250 million.
Lend Lease Real Estate Investments sold The Pointe at Park Center in Alexandria, Va., to Crescent Heights. JPI sold Jefferson at Carlyle Mill, also in Alexandria, to Equity Residential. Trammell Crow Residential sold Alexan Virginia Center in Vienna, Va., to Capri Advisors, as well as Alexan Ryan’s Corner in Ashburn, Va., to Mid-City Urban LLC.
The Pointe at Park Center, built in 1989, consists of 492 units in five four-story mid-rise buildings and 136 units in seven three-story garden buildings. Jefferson at Carlyle Mill was recently completed and is in final stages of lease-up. The 317-unit community is designed with four-story buildings featuring brick elevations designed to replicate a historic textile mill that was once located in the Alexandria area.
Alexan Virginia Center is a luxury rental garden/townhome style community with underground and above ground garages. The 327-unit community, that is to be completed in September 2003, is situated next to the Vienna Metro Station.
Alexan Ryan’s Corner was completed in 2002 and is a Class-A town home community. Alexan Ryan’s Corner consists of 21 one-bedroom units, 280 two-bedroom units and 38 three-bedroom units with integral one or two car garages. The community is located four miles west of Dulles International Airport.