WASHINGTON, DC–So far, it's been a busy 2017 for the Washington DC area and beyond in terms of investment sales. We have learned from sources about two transactions that are closing to add to the list: The Ashborough Apartments in Ashburn, Va is trading for $119 million and Marriott Bethesda North is changing hands for $85.1 million.
CBRE Global Investors is the buyer of the Ashburn apartment complex, which consists of 22 four-story buildings and 504 units. The purchase price breaks down to $236,111 per unit. A JV between Brookfield Asset Management and Fairfield Residential was the seller.
Thayer Lodging acquired the Marriott from JBG Cos. With 447 rooms and 35,000-square feet of meeting space, it is trading at $190,268 per unit. The last time it traded was in March 2006 for $66.5 million.
WASHINGTON, DC–So far, it's been a busy 2017 for the Washington DC area and beyond in terms of investment sales. We have learned from sources about two transactions that are closing to add to the list: The Ashborough Apartments in Ashburn, Va is trading for $119 million and Marriott Bethesda North is changing hands for $85.1 million.
CBRE Global Investors is the buyer of the Ashburn apartment complex, which consists of 22 four-story buildings and 504 units. The purchase price breaks down to $236,111 per unit. A JV between Brookfield Asset Management and Fairfield Residential was the seller.
Thayer Lodging acquired the Marriott from JBG Cos. With 447 rooms and 35,000-square feet of meeting space, it is trading at $190,268 per unit. The last time it traded was in March 2006 for $66.5 million.
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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.
