X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ATLANTA-Gables Residential says the intown location and the its desire to enter the Washington, DC multifamily market motivated its $24.4 million purchase of the 82-unit Dupont Circle apartments.

GlobeSt.com couldn’t reach Gables officials to learn the seller’s name, monthly rents or total square footage of the property.

The 79,895-sf high-rise apartment community is fully leased at an average rent of $2.39 per sf. The purchase brings the total properties owned by Gables Residential to 84 communities with 24,899 completed apartment homes.

The company, which trades on the New York Stock Exchange, opened Wednesday at $30.45 per share.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 3 free articles* across the ALM subscription network every 30 days
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

GlobeSt. Apartments 2020Event

Join 1000+ of the industry's top owners, investors, developers, brokers & financiers at THE MULTIFAMILY EVENT OF THE YEAR!

Get More Information
 

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2020 ALM Media Properties, LLC. All Rights Reserved.