Alexandria apartments sell for $50.1M
Willow Creek Partners acquired 189-unit community
Baltimore-based Continental Realty Corp. has sold 101 North Ripley Apartments in Alexandria for $50.1 million, the company announced last week.
Washington, D.C.-based real estate investment and management firm Willow Creek Partners acquired the apartment community, formerly known as Parkwood Court. The community has 189 units, with one-, two- and three-bedroom floorplans.
It was first acquired by CRC in 2011 on behalf of CRC Fund III General Partner LLC for $23 million.
CBRE’s Bill Roohan, Robert Dean and Jonathan Greenberg represented CRC in the transaction.
The site is less than a mile from Landmark Mall, which is being redeveloped into a $1 billion-plus hospital campus by Inova Health System.