ARLINGTON, VA-Archstone Crystal Towers has traded for $322.25 million setting a record for a single multifamily property trade in the area. Equity Residential sold the property, represented by Jones Lang LaSalle’s Capital Markets group. The buyer is Dweck Properties. JLL Managing Directors Al Cissel and Scott Melnick led the team on this transaction.
Archstone Crystal Towers consists of two, 12-story, 912-unit multifamily towers, sitting on nearly 10 acres of land. We’ll be doing a follow up to this story later in the day.