United Dominion Resources buys suburban D.C. apartments

Richmond, Va.-based United Dominion Resources has purchased Presidential Greens, a 397-unit apartment complex in Alexandria, Va., for $29.8 million. Williamsburg, Va.-based Chandler Management Co. was the seller. The Washington, D.C., office of Encino, Calif.-based Marcus & Millichap Real Estate Investment Brokerage Co., represented both parties in the transaction

Presidential Greens features one- and two-bedroom units, ranging in size from 590 sq. ft. to 776 sq. ft. Monthly rents range from $645 to $1,125. The property was 97% occupied at the time of the sale.