CBRE Arranges $78M Sale of Apartment Community in Northern Virginia
ALEXANDRIA, VA. — CBRE has arranged the $78 million sale of Crystal Woods of Alexandria, a 344-unit apartment community located at 4905 Southland Ave. in Alexandria, roughly eight miles south of Washington, D.C. Jonathan Greenberg, Bill Roohan, Bob Dean, Brian Margerum, Yalda Ghamarian and Thomas Leachman of CBRE arranged the transaction on behalf of the buyer, Republic Properties Corp. Constructed in 1976, Crystal Woods features a fitness center, pool, playground, courtyard, picnic areas and laundry facilities. The previous ownership implemented capital improvements to building systems and common areas. Crystal Woods is located within a 15-minute drive of employment centers including the Pentagon, U.S. Patent & Trademark Office, the Department of Defense Mark Center campus and Inova Alexandria Hospital. In addition, the property is less than a mile from Landmark Mall, which is scheduled for a 2020 redevelopment start by The Howard Hughes Corp.