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ARLINGTON, VA. — ASB Real Estate Investments has acquired Sedona and Slate, two multifamily buildings totaling 474 units in Arlington, for $222 million. The JBG Cos. sold the properties, which are located at 1510 and 1530 Clarendon Blvd. in the Rosslyn submarket of the city.
The 15-story Sedona includes 271 units and features 1,580 square feet of ground-level retail. The 203-unit Slate is a 12-story high-rise that contains 8,500 square feet of retail. On-site amenities include a 24-hour concierge, bicycle room, business center, fitness center and rooftop deck with pool, along with an urban park that offers grilling stations.
The JBG Cos. delivered Sedona during the second quarter of 2013 and completed construction on Slate during the third quarter. The newly constructed apartment properties are expected to receive Arlington County’s first residential LEED Gold certification for “New Construction & Major Renovations.”
Paul Collins, Bill Collins and Christopher Doerr of Cassidy Turley represented The JBG Cos. in the transaction.
The JBG Cos., based in Chevy Chase, Md., is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in metro Washington, D.C.
Bethesda, Md.-based ASB Real Estate Investments is a division of ASB Capital Management LLC, a real estate investment management firm with more than $3.8 billion in assets under management for approximately 180 institutional clients.
— Brittany Biddy