Bozzuto Group Acquires Gables 12 Twenty One Complex In Arlington, VA For $44.5M

The multifamily property located at 1200 North Queen Street, 1201 North Pierce Street & 1225 North Pierce Street in Arlington, VA was sold in a transaction involving the Bozzuto Group and Gables Residential. The property known as the Gables 12 Twenty One complex was purchased by Toby Bozzuto's Bozzuto Group for $44.5 million. This multifamily asset comprises 132 units, with a per unit price of $337,121.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $44,500,000
• Units: 132
• Buyer: Toby Bozzuto - Bozzuto Group
• Seller: Gables Residential
• Mortgage Brokers: Brian Gould, Miles Drinkwalter, Patrick Cunningham & Patrick McGlohn - Berkadia

Bozzuto Group's acquisition of the Gables 12 Twenty One complex marks their first multifamily purchase in 16 years. The deal was finalized with the assistance of mortgage brokers Brian Gould, Miles Drinkwalter, Patrick Cunningham, and Patrick McGlohn from Berkadia.