The specific cost of the acquisition has not been released;Arlington County's Department of Real Estate Assessments shows theproperty's current assessed value to be approximately $30 million.Corus Bank supplied the funds.

Consisting of nearly 265,000 sf, including a garage toaccommodate 350 vehicles, Metropolitan was developed by KSI in2003. The complex carries the address of 2311 South 25th St., andsits along Interstate 395 on a parcel that had been home to thePentagon City Hospital. But after its short life of offering unitsfor rent, the property is about to make the move to theincreasingly hot condo market and offer the units for sale.

"We're not seeing a lot of apartment developments," RobertBrosnan, division chief of the Arlington Department of CommunityPlanning, Housing & Development's Planning Division. "There area large number of residential projects and they're almost allcondominiums. We haven't seen a lot of conversions, but we expectthem to be very strong in the future."

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