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One Loudoun Downtown Sells for $163M

ASHBURN, VA--VA--Retail Properties of America continues to build on its growing collection of local properties and projects.

One Loudoun Downtown One Loudoun Downtown

ASHBURN, VA–Retail Properties of America has entered into a $163.1 million purchase agreement to buy One Loudoun Downtown — the retail centerpiece of One Loudoun with some office thrown in — from Miller & Smith and North America Sekisui House, the master developers of the 360-acre master planned community.  The purchase will be done in phases and the final acquisition price will be determined based on certain performance thresholds, according to the Oak Brook, Ill.- based REIT’s announcement. A call to Retail Properties of America by GlobeSt.com was not returned in time for publication.

The first phase of the purchase, for $120 million, will close at the end of this year. The remaining phases, for $38.1 million, will close over the first three quarters of 2017 as the stand-alone buildings on the retail complex are developed and delivered.

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Erika Morphy

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.

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