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Ashburn Apartment Trades for $119M | Marriott Bethesda North for $85M

WASHINGTON, DC--More deals are closing as the New Year gets off to a robust start.

The Ashborough Apartments. Photo by CBRE Global Investors The Ashborough Apartments. Photo by CBRE Global Investors

WASHINGTON, DC–So far, it’s been a busy 2017 for the Washington DC area and beyond in terms of investment sales. We have learned from sources about two transactions that are closing to add to the list: The Ashborough Apartments in Ashburn, Va is trading for $119 million and Marriott Bethesda North is changing hands for $85.1 million.

CBRE Global Investors is the buyer of the Ashburn apartment complex, which consists of 22 four-story buildings and 504 units. The purchase price breaks down to $236,111 per unit. A JV between Brookfield Asset Management and Fairfield Residential was the seller.

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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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