ARLINGTON, VA-ASB Real Estate Investments has acquired the Sedona | Slate in Rosslyn for $222 million. The two-tower complex, which counts 474 units in adjoining 15- and 12-story buildings, has the distinction of being Arlington County's first LEED Gold apartment project. The JBG Cos. was the seller.

The towers delivered about six months ago; the 271-unit Sedona tower is now close to 90% leased, while the Slate, with 203 units, is 25% leased. The complex, which is located between Clarendon Boulevard, 16th Road, and North Oak and North Ode Streets, also has 10,080 square feet of street level retail. Paul Collins, Bill Collins and Christopher Doerr of Cassidy Turley represented The JBG Cos. in the transaction.

ASB now has a sizeable footprint in the DC area with the Sedona¦Slate investment under its belt—its total greater Washington area real estate portfolio now equals $478.5 million in 11 assets. This year ASB also purchased 801 North Capitol St., an office building near Union Station, for $53 million and a retail property located at 3299 M St. in Georgetown for $3.4 million. ASB expects to close 17 transactions across the country during 2013, valued at approximately $1 billion.

Instant Insights /

ASB Acquires Sedona | Slate for $222M

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