FPA Multifamily Acquires 1,222-Unit Riverside Apartments From Elme Communities For $250 Million

The Riverside Apartments, located at 5860 Cameron Run Terrace in Alexandria, Virginia, is a multifamily asset consisting of 1,222 units. The property was sold for $250 million, equating to a price per square foot of $204,583.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $250,000,000
• Address: 5860 Cameron Run Terrace
• Market: Alexandria, VA
• Buyer: Gregory A. Fowler - FPA Multifamily
• Seller: Elme Communities
• Square Footage: 1,222

Elme Communities had previously engaged in a $280 million deal with The Beitel Group, which ultimately collapsed in June before proceeding with the sale to FPA Multifamily.