Alto Real Estate Funds Acquires Shopping Center Near D.C. for $37.9M
WOODBRIDGE, VA. — Alto Real Estate Funds has acquired Prince William Square, a 232,957-square-foot shopping center in Woodbridge, for $37.9 million. The property was 89 percent leased at the time of sale to tenants including Ross Dress for Less, Mom’s Organic Grocer, dd’s Discounts, Ashley Furniture, Harbor Freight Tools and Jo-Ann Fabrics. Prince William Square is situated at 14200-14520 Smoketown Road, 27 miles southwest of downtown Washington, D.C. Morgan Stanley provided the buyer with a $25 million acquisition loan that offers a seven-year term and a fixed interest rate. Walker & Dunlop’s Los Angeles Capital Markets Team secured the debt on behalf of Alto Real Estate Funds. This transaction marks the buyer’s first acquisition in the Northern Virginia market. The seller was not disclosed.