Sale of $ 40.8 million building in Alexandria


JLL Capital Markets arranged $ 34.34 million for buyer Washington Property Co.

Posted

23 December 2021




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The Mark is a 277 unit apartment building. Photo courtesy of JLL Capital Markets.

A 227-apartment building in Alexandria valued at $ 40.8 million sold for an undisclosed amount, JLL Capital Markets announced on Tuesday.

JLL Capital Markets arranged a three-year, $ 34.34 million loan for commercial real estate company Washington Property Co., which contributed ownership to 100 South Reynolds LLC. The loan was guaranteed by MetLife Investment Management.

Located at 100 S. Reynolds St., The Mark measures 183,268 square feet. It has 34 non-renovated units, 90 partially renovated units and 103 fully renovated units. Its amenities include a swimming pool, outdoor lounge and terrace, grill patio and fireplace, lobby area with café-bar, fitness center and business center.

The brand is located between Interstate 495 and Duke Street and is a 0.5 mile walk from the Landmark Mall redevelopment, which will be a 4.2 million square foot mixed-use project anchored by a Hospital System of Inova health when completed.

JLL Capital Markets Senior Director Jimmy Conley and Director Drake Greer led the team of debt advisors representing Washington Property Co.


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