Ashton Heights
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WASHINGTON, DC—Ashton Heights, a high-rise, 283-unit multifamilyproperty in Suitland, Md., has traded for $45.8 million. The sellerwas Orlo; the buyer was not disclosed.
Transwestern Commercial Services' Robin Williams, Dean Sigmon,Justin Shay and Michael D'Amelio represented the seller in thedeal.
The value-add property, located at 3901 Suitland Rd., iscurrently 96% occupied. The 1970s vintage community is thebeneficiary of a submarket revitalization that includes newwalkable retail and entertainment centers, as well as significantrenovations to existing apartment communities, according to thebrokers.
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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.
