TruAmerica Multifamily Acquires Chase Heritage Apartments In Sterling VA For $72M

The property involved in this transaction is a MultiFamily asset located at 1212 Chase Heritage Circle, Sterling, VA. The sale price of the asset was $72,000,000, which reflects a price per unit (PPU) of $305,085 across a total of 236 units.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $72,000,000
• Address: 1212 Chase Heritage Circle
• Market: Sterling, VA
• Units: 236
• Price Per Unit: $305,085
• Buyer: Matt Ferrari & Bob Hart - TruAmerica Multifamily
• Seller: McDowell Properties
• Brokers: Jonathan Greenberg & Robert Dean - Institutional Property Advisors

This transaction highlights the involvement of key players in the real estate market, with TruAmerica Multifamily purchasing the Chase Heritage Apartments for future enhancements amid increasing regional investments. Notably, this acquisition follows significant deals in the area, including transactions valued at $250 million for Dulles Green and $237 million for Town Square at Mark Center, indicating sustained growth in the market.