ALEXANDRIA, VA-Hunting Point Apartments, a 530-unit multifamily property here, has traded for $78.1 million. Cameron Manesh and Allen Manesh of Ideal Realty Group brokered the dual-tower, mid-rise complex's sale.
An entity controlled by Chicago-based Laramar Group is the buyer. It plans to make extensive renovations to the property.
The two buildings, which were built in 1950, are located on the Potomac River near Wilson Bridge. The property was part of an eminent domain during the bridge expansion and owned by the Virginia Department of Transportation. It decided to sell the property after the bridge project was completed.
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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.
