Updated Mar 18, 2025
Penzance Acquires 269-Unit Multifamily Property In Arlington, VA For $105M
1028 South Walter Reed Drive
$105,000,000
Units
269
Asset Type
MultiFamily
Closing
Aug 22, 2023
About this deal
AI
The 269-unit Jasper Columbia Pike apartment property located at 1028 South Walter Reed Drive in Arlington, VA has been sold by Penzance for a total amount of $105 million. The property is a multifamily asset, consisting of residential units.
Summary of transaction details
- Property Type: Multifamily
- Sale Price: $105,000,000
- Units: 269
- Price per Unit: $390,335
Penzance, a real estate company, served as the seller in this transaction. The purchase price translates to an average cost of approximately $390,334.57 per unit. The deal represents a significant investment in the Arlington, VA market.
Players
Washingtonville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.15%
Cash-on-Cash
-0.04%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93