$40.8M apartment building in Alexandria sells
JLL Capital Markets arranged $34.34M for buyer Washington Property Co.
A 227-unit apartment building in Alexandria assessed at $40.8 million sold for an undisclosed sum, JLL Capital Markets announced Tuesday.
JLL Capital Markets arranged a three-year $34.34 million loan for commercial real estate company Washington Property Co., which brought the property from 100 South Reynolds LLC. The loan was secured through MetLife Investment Management.
Located at 100 S. Reynolds St., The Mark is 183,268 square feet. It has 34 un-renovated units, 90 partially renovated units and 103 fully renovated units. Its amenities include a pool, an outdoor lounge and terrace, a grilling patio and fire pit, a lobby with a coffee bar, a fitness center and a business center.
The Mark is positioned between Interstate 495 and Duke Street and is a 0.5-mile walk to the Landmark Mall redevelopment, which will be a 4.2-million-square-foot mixed-use project anchored by an Inova Health System hospital when completed.
JLL Capital Markets Senior Director Jimmy Conley and Director Drake Greer led the debt advisory team representing the Washington Property Co.