The Shelby

ALEXANDRIA, VA—Irvine, Calif.-based Passco Cos. has made itsfirst acquisition in the Mid-Atlantic, scooping up the 240-unitapartment building, The Shelby, for $69.5 million.

The Shelby is located at 6200 North Kings Highway. Ryan Ogdenwith ARA Newmark represented both the buyer and Insight Propertiesas the seller in the transaction. Fannie Mae's Green BuildingProgram providing the financing, which was arranged through ChrisBlack at KeyBank Real Estate Capital.

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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.