StoneBridge Investments of Washington, DC has acquired 550 Abernathy Apartments, a 228-unit apartment community in the greater Atlanta submarket of Sandy Springs, for $31 million. The property is located at 550 Abernathy Road NE within Perimeter Center, a fast-growing “edge city” that encompasses three small cities: Brookhaven, Dunwoody, and Sandy Springs. It is Atlanta’s largest employment center, with over 123,000 employees, 31 million SF of office space, three major hospitals, and six million SF of retail space including the 1.5 million SF Perimeter Center Mall.
Bethesda, MD-based Washington Property Company has completed construction of its latest and most upscale urban living destination, Solaire Bethesda, with 139 luxury rental apartments atop street-level retail space that will feature a True Food Kitchen restaurant scheduled to open in early 2017.
Urban Investment Partners (UIP) of Washington, DC has acquired a ten-story building at 2601 Virginia Avenue, NW across from the Watergate mixed-use complex for $36 million. The seller was George Washington University (GWU), which had used the building as student housing for 17 years. Hall on Virginia Avenue achieved notoriety while operating as a Howard […]
Urban Investment Partners (UIP) of Washington DC has acquired three class C office buildings in the Tenleytown neighborhood of Washington, DC from American University (AU). The portfolio, including the longtime home of National Public Radio affiliate WAMU, traded for $45 million. UIP plans to invest $75 million in order to convert two of the buildings into residential apartments.