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Paradigm, UBS JV Divests D.C.-Area MF for $228M to Polinger Partnership

A joint venture between Paradigm and a fund advised by the UBS Asset Management Real Estate & Private Markets – U.S. sold Meridian at Pentagon City in Arlington, VA. A JV between Polinger Development Co. and an unidentified institutional investor paid $228 million for the 534-unit, two-tower multi-housing property.

The asset is located at 1221 and 1331 S. Eads St., adjacent to Amazon’s planned 4.1 million-square-foot HQ office. The property encompasses a mix of studio, one and two-bedroom units. Features include two rooftop pools, two expansive outdoor terraces with grilling areas, an 18th-floor clubroom with views of the Capitol, a fitness facility, dog park, clubroom, business center, guest suite accommodations, concierge service and a 24-hour front desk.

HFF’s Walter Coker, Brian Crivella, Stephen Conley and Matthew Lawton marketed the property exclusively on behalf of the seller. An HFF debt placement team led by Jamie Leachman also arranged $126.9 million in financing.

Connect Apartments is planned next month in Los Angeles. You can get more information and register to attend on this link.

For comments, questions or concerns, please contact Dennis Kaiser

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About Dennis Kaiser

Dennis Kaiser is Vice President of Content and Public Relations for Connect Commercial Real Estate. Dennis is a communications leader with more than 30 years of experience including as a journalist and in corporate and agency marketing communications roles. He is responsible for Connect’s client content operations and is involved in a range of initiatives ranging from content strategy, message development, copywriting, media relations, social media and content marketing services. In his most recent corporate communications roles, he led a regional public relations effort across Southern California for CBRE, played a key marketing role on JLL’s national retail team, and was responsible for directing the global public relations effort at ValleyCrest, the nation’s largest commercial landscape services company. In addition to his vast commercial real estate experience, Dennis has worked on communications and launch strategies for a number of residential projects such as Disney’s Celebration in Florida, Ritter Ranch in Palmdale California (7,200 homes, 22,000 acres), WaterColor in Florida and PremierGarage in Phoenix. Dennis’s agency background included firms such as Idea Hall and Macy + Associates. He has earned an outstanding reputation with organization leaders as a trusted advisor, strategic program implementer, consensus builder and exceptional collaborator. Dennis has developed and managed national communications programs for Fortune 500 companies to start-ups, both public and private. He’s successfully worked with journalists across the globe representing clients involved in major-breaking news stories, product launches, media tours, and company news announcements. Dennis has been involved in a host of charitable and community organizations including the American Cancer Society, Easter Seals, BoyScouts, Chrysalis Foundation, Freedom For Life, HOLA, L.A.’s BEST, Reach Out and Read, Super Bowl Host Committee, and Thunderbirds Charities.

  • ◦Sale/Acquisition
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