Exclusive: Bernstein Cos. Sells 338 Units in Suburban DC
Harbor Group issued a $44 million loan for the buyer.
Raith Capital Partners has purchased The Highline, a 338-unit community in Hyattsville, Md., from The Bernstein Cos., according to Yardi Matrix information. Harbor Group International issued a $43.8 million acquisition loan, with a maturity date slated for August 2031.
A partnership between The Bernstein Cos. and Aria Development Group, The Highline came online in 2020 at 6445 America Blvd. This is the first time the LEED Silver-certified property has changed hands since opening.
The Highline was an adaptive-reuse project in which an office building originally completed in 1968 was redeveloped into a residential building. The 10-story community consists of 24 studios, 197 one-bedroom, 114 two-bedroom and three three-bedroom residences, with layouts ranging from 530 to 1,740 square feet. Shared amenities include a fitness center, pet spa, coworking space, sunroom and a 90-spot parking area.
The Highline is near Mall at Prince George’s shopping center, which features a tenant roster that encompasses Target, Old Navy, T.J. Maxx and Macy’s. Major thoroughfares in the area include U.S. Route 1 and Maryland State routes 410, 212 and 193, which connect Hyattsville to downtown Washington, D.C., 7 miles southwest.
Metro DC multifamily investment activity soars
Additionally, the property is surrounded by more than 100 multifamily communities on a 3-mile radius, amounting to upwards of 28,200 units, Yardi Matrix shows. Among these is Wesley House, which traded earlier this year for $12.8 million. Cubed Partners purchased the asset in June, which features 127 units, out of which 120 serve as affordable housing.
Nationwide, Washington, D.C. ranked second highest in multifamily transaction volume in the first half of 2026. The metro registered more than $2 billion in sales through June, nearly double the $1.1 billion recorded in the first six months of 2025. A total of 7,219 units across 27 properties changed hands, at an average per-unit price of $283,851, up 3.3 percent from the previous year.
