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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