HERNDON, VA—A source has told GlobeSt.com that Dweck Properties has scooped up its third acquisition in the area in recent weeks: ICON at Dulles Station, a 457-unit, two-building apartment complex that traded for $134.8 million, or $295,000 per unit. The seller is JLB Partners, a developer in Irvine, Texas. GlobeSt.com reached out to JLB after hours; we will update the story accordingly. GlobeSt.com was unable to contact Dweck Properties for comment.
This transaction follows two others we reported this week in which Dweck Properties was the purchaser. It acquired North Tract Lofts, a 184-unit apartment building in Arlington, VA, for $68.3 million, or $370,924 per unit. It also acquired the Gramercy at Metropolitan Park in Arlington. The 399-unit apartment building traded for $190 million, or $476,190 per unit.
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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.
