(To read more on the multifamily market, click here.)

WASHINGTON, DC-Locally based Akridge purchased a nine-acreparcel at Buzzard Point near the Anacostia from public utilityconcern Potomac Electric Power Co. Holdings Inc. for $75 million.The site is near the future Washington Nationals baseballstadium.

The land covers three full city blocks and can accommodate up to2.7 million sf of development, with 1.6 million of that spaceallotted for residential development. Akridge is planning amixed-use project for the site.

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