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Passco Acquires 200-Unit MF Community in Northern Virginia

Privately held California-based commercial real estate company Passco Cos. has acquired The Preserve at Catons Crossing, a 200-unit, mid-rise apartment community in the Northern Virginia submarket of Woodbridge. The sales price was not disclosed.

Located at 2760 Green Ash Loop, the community is adjacent to the 240,000-square-foot Kaiser Permanente medical center currently under development, which is expected to provide a resident base for the community. Amenities include a fitness studio, executive business center, swimming pool and hot tub, outdoor fireside lounge, gazebo gardens, a barbecue area with gas grills, children’s playground, and Amazon Hub lockers.

Christine Espenshade and Robert Garrish of Newmark Knight Frank represented the seller, Fairfield Residential, in the transaction. Additionally, Chris Black and Caleb Marten of KeyBank Real Estate Capital’s Commercial Mortgage Group arranged acquisition financing on behalf of Passco.

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About David Cohen

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.

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