Updated Jul 28, 2026
Linden Property Group Purchases 217-Unit Multifamily Community In Vienna For $68 Million
1723 Gosnell Road
$68,000,000
Units
217
Asset Type
MultiFamily
Closing
Jul 24, 2026
About this deal
AI
The asset involved in this transaction is a 217-unit multifamily community located at 1723 Gosnell Road in Vienna, Virginia. The property was sold for a total of $68,000,000, which reflects a price per unit of $313,364.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $68,000,000
- Units: 217
- Buyer: Wade Casstevens - Linden Property Group
- Seller: Benjamin W. Schall - AvalonBay
The transaction involved Wade Casstevens representing Linden Property Group as the buyer, while Benjamin W. Schall represented AvalonBay as the seller. In this deal, AvalonBay sold the multifamily community to Linden Property Group and Akridge.
On the Map
$68,000,000
MultiFamily
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Players
Vienna 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
0.23%
Cash-on-Cash
-0.07%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93