Woodbridge, VA Multifamily Sells for $81M
Nuveen and Jair Lynch Real Estate Partners purchased the 408-unit, Potomac Vista Apartments from FCP.
WOODBRIDGE, VA – Privately-held real estate investment company, FCP has sold the 408-unit, Potomac Vista Apartments in Woodbridge, VA to the joint-venture partnership of Jair Lynch Real Estate Partners and Nuveen for $81.5 million.
Upon purchasing the residential community in August 2016, FCP completed capital improvements to the property, including updates to the building’s exterior, HVAC systems and common area amenities.
Offering one-, two- and three-bedroom floorplans, the apartment community features amenities such as a 24-hour fitness center, a business center, a swimming pool and two playgrounds.
FCP associate, Scott Reibstein stated, “Investments in Northern Virginia and the Washington DC metro area continue to be of great interest to us as strong job growth and diversification of the local economy attract people to the region.”
JLL’s Brian Crivella, Walter Coker and Robert Jenkins represented FCP in the transaction.
