ARLINGTON, VA. — ING Clarion Partners has acquired an Arlington apartment community in a $118.5 million deal. Millennium at Metropolitan Park was completed this year. It is located at 1330 S. Fair St. near the Crystal City submarket and within three blocks of a Metro subway station.
Millennium at Metropolitan Park is an 18-story tower that contains 300 apartments and 7,800 square feet of ground-floor retail space. The residences comprise 17 studio units, 155 one-bedrooms, 125 two-bedrooms and three three-bedrooms. The average unit size is 932 square feet. Community amenities include concierge service and the 11,000-square-foot, rooftop Metropolitan Club.
“We have historically viewed the Northern Virginia-Washington, D.C., corridor very positively,” said Marc DeLuca, director of ING Clarion, in a statement. “The area continues to be resilient with above-average growth in population and median household income. The Millennium at Metropolitan Park is a top-quality building and is well positioned to benefit from these strong fundamentals.”
The seller's name was not released.
— Coleman Wood