Jair Lynch Real Estate Partners Acquires 21260 Huntington Square From FCP For $105.5M

The Fields at Cascades Apartments, located at 21260 Huntington Square, Sterling, VA, features 320 units and was sold for $105.5 million. The property is situated in the Sterling market and has a square footage of 0.

Summary of transaction details:

• Property Type: Apartment Community
• Transaction Amount: $105,500,000.00
• Seller: FCP
• Buyer: Jair Lynch Real Estate Partners
• Seller's Representatives: Jeff Kunitz & Jonathan Greenberg - CBRE
• Date of Acquisition by Seller: December 2014
• Previous Purchase Price by Seller: $55.8 million
• Investment in Improvements: Over $1.2 million
• Location Advantage: Convenient access to Dulles Tech Corridor, Route 7, Fairfax County Parkway, Dulles Toll Road, Dulles Airport, Silver Line, and Northern VA job centers

Jonathan Greenberg, Jeff Kunitz, and Mike Canori from CBRE affordable housing represented the seller, FCP, in this transaction. Additionally, it is noteworthy that Jair Lynch Real Estate Partners and Nuveen Real Estate are committed to preserving quality workforce housing through their investment in this property.