VIENNA, VA-Metropolitan Development has put on the market a 1,000-unit multifamily portfolio stretched out across three separate regions: Apex, NC; Camp Springs, MD; and New Haven, CT. The locally based firm has tapped Jones Lang LaSalle’s Washington, DC-based Multifamily Group, which consists of Al Cissel, Scott Melnick, Peter Nicoletti, Todd Weinstein, Jorge Rosa and Jean Samayoa, to market the class A offerings. 

The buildings could be sold individually or as a portfolio for at least $170 million. On a blended basis, the portfolio will likely trade at a 6% to 6.25% cap rate, Cissel tells 

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.