Shoreham Buys DC-Area Community for $51M
The Arlington, Va., property came online in 1959.
Shoreham Capital has acquired Infinity Apartment Homes, a 227-unit community in Arlington, Va. The company bought the property from Capital Investment Advisors for $51 million.
Manufacturers and Traders Trust Co. originated a $35.7 million Fannie Mae loan to finance the purchase, according to public records. The note is set to mature in 2029.
Completed in 1959, Infinity Apartment Homes has undergone multiple upgrades, including modernized interiors and enhanced security systems. The property comprises two buildings with studio, one-, two- and three-bedroom layouts ranging from 300 to 1,228 square feet. Shared amenities include a swimming pool, fitness center, resident lounge, business center and grade-level parking with 227 spots.
Located within the Columbia Pike Corridor at 955 S. Columbus St., the community is 7 miles from downtown Washington, D.C. Ronald Reagan Washington National Airport is some 6.5 miles away, as are Pentagon City and the Arlington National Cemetery. Interstate 395 and U.S. Route 50 are also nearby.
The property is also 4 miles from an 1,180-unit community that Shoreham acquired in April in a joint venture with Bridge Investment Group. The partners bought Mason at Van Dorn from CIM Group.
