JLL has arranged the $113 million sale of Ravens Crest, a 444-unit multifamily community in Manassas, VA.
The garden-style apartment property consists of one- and two-bedroom units that have been recently updated, featuring stainless steel appliances, updated lighting, cabinetry, granite countertops, walk-in closets, balconies or patios and wood-style flooring. The amenity-rich property also features a newly renovated clubhouse and fitness center, business center, picnic area with grills, playground, private swimming pool and outdoor kitchen and recreation areas.
Walter Coker, Brian Crivella, Robert Jenkins and Bill Gribbin of JLL represented the seller in the transaction, a partnership between LCOR and a fund managed by the Real Estate Group of Ares Management Corp. The buyer was a partnership between a fund managed by Clarion Partners LLC and Blackfin Real Estate Investors.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.