Avalon Potomac Yard Avalon Potomac Yard

ALEXANDRIA, VA—Avalonbay Communities has acquired an apartment building in the Washington DC area after a long investment drought in its home base. The Arlington, VA-based REIT has purchased JBG Cos. and MRP Realty’s The Alric at The Exchange at Potomac Yards via an LLC it established earlier this month, according to a state filing and a source, which provided more details about the transaction.

The property traded for $108.3 million, or $335,139 per unit. The two-building, five-floor complex is located at 731 Seaton Ave., and has been rebranded Avalon Potomac Yard.

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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