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930-Unit Garden-Style Metro DC MF Sold for $131M
The Avanti, 930-unit garden-style community in District Heights, MD, has sold for $131 million. The buyer was New York-based GMF Capital, while the seller was Suitland Park, LLC, a partnership comprised of Dragone Realty Investments and PCCP, LLC. Dragone elected to retain its ownership stake in the property.
The renovated property sits less than eight miles southeast of Capitol Hill and the District’s 787,600 jobs as well as Suitland Federal Center, Joint Base Andrews, National Harbor and the new HQ for U.S. Citizenship and Immigration Services. Constructed in 1965 and renovated between 2012 and 2016, The Avanti consists of 69 buildings with one, two, and three-bedroom units.
ARA Newmark’s Al Cissel, Ryan Ogden, Drew White and Mike Marshall represented the seller.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition

