Greystar Nets $216M in NoVa Tower Trade
This is the first time the submarket's tallest community has changed hands.
Image courtesy of Yardi Matrix
Greystar has sold The Commodore, the tallest multifamily tower in Arlington, Va., to investment firm GID, The Business Journal reported. The 423-unit luxury property changed hands for $215.8 million.
This is the first time the property has traded since Greystar delivered it in 2024. Since the transaction, the new ownership rebranded the property as Windsor Courthouse.
Rising 20 stories, the high-rise has one-, two- and three-bedroom floorplans, along with penthouse units, ranging from 333 to 1,710 square feet.
Shared amenities include a fitness center, business center, swimming pool, clubhouse and subterranean parking with 219 spots. The property has been proposed for a LEED Gold certification, Yardi Matrix data shows.
Located at 2055 15th St. North, the high-rise is across the street from the Court House subway stop on lines O and S, which connect the area to downtown Washington, D.C., 4 miles northeast.
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Greystar ranked highest across both top multifamily owners and top multifamily developers over the course of last year. As a property owner, Greystar’s portfolio across the multifamily sector amounted to 280,000 units in 2024, with a total value of $78.2 billion. As a developer, the company had approximately 31,500 units under construction at the end of June 2025, with projects concentrated in market-rate and student housing developments, followed by senior housing and BTR/SFR.
D.C.’s recent investment landscape
In the first five months of 2026, the multifamily sector across metro Washington, D.C. registered $1.2 billion in investment sales, marking a 38 percent increase compared to the same timeframe in 2025, according to a recent Yardi Matrix report. As of May, the average per-unit price stood at $286,848, well above the $181,821 U.S. figure.
A recent noteworthy multifamily sale in metro D.C. was ORLO’s $180 million purchase of The Grand, a 545-unit community in East Rockville, using a $129.3 million Freddie Mac loan. Brookfield Properties sold the 16-story asset for $330,275 per unit.
