ROSSLYN, VA—Another day, another multifamily trade in the DC area. This time, the asset in question was a newly-delivered apartment building in the Rosslyn-Ballston Corridor.
The 67-unit Avery Row Apartments traded for $29 million. The seller was Rolfe 67, an LLC made of up local investors. The buyer was Deutsche Bank, representing a client. DTZ Senior Managing Director Chris Doerr represented the seller in the deal. He declined to discuss pricing; GlobeSt.com learned about the price from a source.
The apartment building has, per the sensibilities of an apartment dweller in this submarket, a number of high-end finishes, including granite countertops, stainless steel appliances, and designer lighting. There are also onsite amenities including a clubroom and outdoor veranda and cyber café as well as the mix of retail and restaurants around the Courthouse Metro stop.
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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.
