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Washington DC  + DC  + Apartments  | 
The Vale apartments Washington DC Parks at Walter Reed redevelopment

Multifamily Sale at Walter Reed Redevelopment Marks PGIM Real Estate Fund’s First Round-Trip Investment

PGIM Real Estate’s Impact Value Partners (IVP) fund has realized its first asset through the sale of The Vale in Washington, DC. Sale terms weren’t disclosed. The Vale was developed in partnership with Hines, Urban Atlantic, and Triden Development Group.  

A nearly completed 301-unit apartment building located at The Parks at Walter Reed master-planned development, The Vale was the first investment made by the IVP fund in 2018 and its disposition marks the first round-trip investment for IVP. The sale also marks the first realized asset in the broader redevelopment of the former Walter Reed Army Medical Center site. 

“The successful development and disposition of The Vale demonstrate how collaboration among the private and public sectors can contribute to the affordable housing supply while creating sustainable and healthy communities like The Parks at Walter Reed,” said Lisa Davis, executive director at PGIM Real Estate and portfolio manager for IVP.  

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Inside The Story

IVP’s Davis

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition