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Dulles Greene

HERNDON, VA–Dulles Green, a 806-unit garden apartment complex with 31 buildings is trading for $193 million, or $239,454 per unit. The seller is a JV between Toll Bros. and Lowe Enterprises and the buyer is Harbor Group International, according to Real Capital Analytics. Located at 2150 Astoria Circle, the property, which was bought for renovation, is about 96% occupied.

The Harbor Group has a strong presence in the Washington DC area, making periodic investments. In June, for example, it acquired Sussex At Kingstowne, a 556-unit garden apartment property, is trading for approximately $144 million or $258,993 per unit. It also acquired One Dulles Tower, a 13-story, 403,622 square foot Class A office tower in Herndon, Va., for $226 million earlier this year.

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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.

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