StoneBridge Investments of Washington, DC has acquired Copper Spring, a 366-unit apartment community in the prestigious West End submarket of Richmond, VA, for $54.2 million. The new ownership plans to undertake strategic upgrades to the clubhouse and other amenities, as well as some of the residences. Copper Spring is StoneBridge’s first acquisition in Richmond, following its recent acquisitions of two apartment communities totaling 500 units in Atlanta’s Perimeter Center submarket.
Urban Investment Partners (UIP) has acquired Tilden Hall, a 76-unit apartment building located at 3945 Connecticut Avenue, NW in Washington, DC, for $13.3 million. UIP coordinated the acquisition – its third for 2015 – with the Tilden Hall Tenants Association, and worked with the association to plan a major $18 million renovation. Completed in 1924, Tilden Hall was designed by prolific architect Frederic B. Pyle in the Colonial Revival style. It was one of many District apartment buildings developed along streetcar corridors in the years following World War I.
Urban Investment Partners (UIP), in partnership with Philadelphia-based Lubert-Adler Partners, has acquired Embassy Towers, a 72-unit apartment building in Washington, DC’s Adams Morgan neighborhood, for $13.25 million. The property is located at 1620 Fuller St., NW, across the street from the historic former Italian embassy building, which is slated for redevelopment.
Offering the most expansive array of resort-style amenities of any rental community in the area — everything from an indoor lap pool to round-the-clock Starbucks coffee — Harrison at Reston Town Center is now open. Almost 20 percent of its 360 luxury apartments already have been pre-leased. Located at 1800 Jonathan Way facing Reston Parkway, The Harrison is the latest project of Renaissance Centro, developer of the two other multifamily communities across Reston Parkway from Reston Town Center: Stratford House and Carlton House.