ARA EXECUTES SALE OF 308-UNIT COMMUNITY IN VIRGINIA

ALEXANDRIA, VA. — ARA has announced the sale of Bennington Crossings, a 308-unit multifamily community located in Northern Virginia’s Alexandria submarket. Drew White and Ryan Ogden of ARA’s MidAtlantic-based office represented the seller, the privately-held Greenwood Village, Co.-based Laramar Group, in this transaction. JBG Cos., a private, Washington, D.C.-based commercial real estate firm acquired the property. Constructed in 1962 and renovated in 2008, the property reported 95 percent occupancy at the time of sale.