Mar
14
Multifamily Property Commands $69.5M in D.C. Metro Area
ByThe Shelby, a millennial-oriented Class A multifamily community which saw completion in 2014, changed hands for $69.5 million dollars.
The Shelby, Alexandria, Va.
Alexandria, Va.—Irvine, Ca.-headquartered Passco Cos. recently acquired The Shelby, a Class A 240-unitmultifamily community in the Capital’s upscale Alexandria area. The property, which saw completion in 2014, changed hands for $69.5 million dollars.
Ryan Ogden, senior managing director with ARA Newmark, represented both Passco Cos. as buyer and Insight Properties as the seller during the multifamily deal. Fannie Mae’s Green Building Program provided financing through Chris Black of KeyBank Real Estate Capital…
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