JLL Facilitates $57M Sale of Metro D.C. Apartments
- Nov 20, 2015
Working on behalf of a Washington REIT, JLL’s Capital Markets has brokered the sale of Munson Hill Towers, a 279-unit multifamily community located in the Washington, D.C. suburb of Falls Church, Va. Akelius US LLC purchased the property for $57 million.
Munson Hill Towers is a high-rise apartment complex located along Leesburg Pike and near public transportation options. Amenities include a pool and Jacuzzi, business center, fitness center, basketball and tennis courts, billiards room, picnic area with grills and playground.
“Renters are turning toward first-tier suburbs – the areas near major cities that offer a ‘live, work, play’ dynamic but at a more affordable cost – and investors are following suit,” Espenshade said in prepared remarks. “Munson Hill Towers is located near top employers and retailers and boasts plenty of upside potential.”
With a team of more than 1,700 specialists, JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. In 2014 alone the firm has completed $118 billion in investment sale and debt and equity transactions globally.
Image courtesy of Greystar