WOODBRIDGE, VA—River Oaks Apartments, a 294-unit garden-style multifamily complex that delivered in 2012 with an eye on the growing demand from nearby Ft. Belvoir, has traded to San Francisco-based Friedkin Realty Group. A source alerted GlobeSt.com to the transaction, which closed last month. Friedkin now has the property listed on its website. According to our source, it traded for $63.8 million, or $217,007 per unit and at a 5% cap rate.

The seller was the original developer of the project – a JV between Bainbridge Cos. and Starwood Capital Group. HFF brokered the deal.

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