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WC Smith Acquires 234-Unit Albemarle Apartments From AvalonBay Communities For $69.8M In Washington DC

Property Image
SOLD
$69,800,000

Dc

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MultiFamily
Sold 03/31/2026
the dealdetailscomps
Property Image
SOLD

WC Smith Acquires 234-Unit Albemarle Apartments From AvalonBay Communities For $69.8M In Washington DC

4501 Connecticut Avenue Northwest

See Similar Deals
MultiFamily
Sold 03/31/2026
the dealdetailscomps

Summary

Asset Type:MultiFamily
Transaction Type:Sale

The asset involved in the transaction is a multifamily property located at 4501 Connecticut Avenue Northwest in Washington, DC. The property consists of 234 units and was sold for a total of $69,800,000, resulting in a price per unit of $298,291.

Summary of transaction details:

  • Property Type: Multifamily
  • Transaction Amount: $69,800,000
  • Units: 234
  • Buyer: WC Smith
  • Seller: AvalonBay Communities
  • Loan Amount: $52,500,000
  • Financing Source: Walker & Dunlop
  • Transaction Date: 03/31/2026

The deal was facilitated through a Tenant Opportunity to Purchase Act process, which allowed WC Smith to finance the acquisition efficiently. AvalonBay Communities, the seller, previously operated the property under the Albemarle apartments branding near the Van Ness Metro in D.C.

Players

WC Smith
WC Smith
BUYER
AvalonBay Communities
AvalonBay Communities
SELLER

Details

SOLD
IMAGE: 03/31/2026 ADDRESS: 4501 Connecticut Avenue Northwest MARKET: Washington, DC ASSET TYPE: Multifamily BUYER: WC Smith SELLER: AvalonBay Communities SALE PRICE: $69,800,000 UNITS: 234 ~ PPU: $298,291 NOTE: AvalonBay sold its 234-unit Albemarle apartments near Van Ness Metro in D.C. for $69.8M to WC Smith, which financed the acquisition with a $52.5M loan from Walker & Dunlop via a Tenant Opportunity to Purchase Act process.

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