REBusinessOnline

JLL Arranges $58.9M Sale of Multifamily Community in Metro D.C.

Palette at Arts District offers studio through two-bedroom floor plans averaging 870 square feet.

HYATTSVILLE, MD. — JLL has arranged the $58.9 million sale of Palette at Arts District, a 243-unit multifamily community in Hyattsville’s Arts District. The property offers studio, one- and two-bedroom floor plans averaging 870 square feet. The community also offers 4,700 square feet of ground-level retail space as well as communal amenities such as a pool, courtyard, grilling area, dog park, clubroom with pool table, cybercafé, coffee bar, fitness center and a conference room. Palette at Arts District is located at 5501 45th Ave., seven miles east of downtown Washington, D.C. Walter Coker and Brian Crivella of JLL represented the undisclosed seller in the transaction. Jamie Leachman of JLL originated a 10-year, fixed-rate Fannie Mae acquisition loan on behalf of the buyer, Harbor Group International LLC.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.



Related News

Webinars on Demand


Conferences


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties