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JLL Completes $65M Sale of DC MF
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Fairmont Gardens, a 388-unit multifamily complex in Annandale, VA, a suburb located 15 miles west of Washington, DC, traded hands. Capital Investment Advisors purchased the community from The JBG Companies for $65 million.
Fairmont Gardens is near the I-495 and Little River Turnpike, and an array of shopping, dining and entertainment outlets. Residents benefit from convenient access to public transportation options and accessibility to downtown Washington, DC.
JLL’s Capital Markets team involved in the transaction included Christine Espenshade, Robert Garrish and Shawn McDonald.
“The multifamily market in suburban D.C. is strong and poised for continued growth,” said Espenshade. “Investors are seeking value-add product in prime locations, and Fairmont Gardens delivered on both fronts.”
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- ◦Sale/Acquisition