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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