WASHINGTON, DC—TIAA-CREF has made another majoracquisition in the Washington DC area market: it is acquiringFlats 130, a 643-unit apartment complex in theNoMA submarket for a total of $295 million. TheWashington Business Journal first reported the deal Thursday afternoon; GlobeSt.com confirmed itwith an independent source.

The Walton Street Capital andStonebridgeCarras JV is the seller.

The math behind the deal breaks down in the following manner,our source tells us:

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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.