X

Thank you for sharing!

Your article was successfully shared with the contacts you provided.

ASHBURN, VA-Associated Estates Realty Corp. has acquired a multifamily property here for $90.3 million, or $179,000 per unit. Called the Ashborough, the class A property has 504 units with an average rent of $1,322 per month. The property is currently 97.4% occupied. Associated Estates funded the Ashborough acquisition with cash on hand and an unsecured line of credit, which had no balance drawn on it.  

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 © 2019 ALM Media Properties, LLC. All Rights Reserved.