
Passco Picks Up Virginia Transit-Oriented MF for $113M
Irvine, CA-based Passco Companies acquired The Parker, a 360-unit multifamily community built in 2016 in Alexandria, VA for $112.75 million. The Parker is strategically located at the Huntington Metro Station at 2550 Huntington Ave., offering direct connectivity to employment centers throughout North Virginia and Washington, DC.
Passco’s Gary Goodman says, “The asset’s proximity to transportation and major employment hubs makes it easy for residents to commute to and from work, and ensures the community’s long-term demand.”
Eastdil Secured’s David Nachison represented the seller, a joint partnership between AEW Capital Management, on behalf of one of its closed-end funds, and MRP Realty, as well as Passco Companies as the buyer. KeyBank Real Estate Capital’s Chris Black and Caleb Marten arranged acquisition financing for the buyer through Fannie Mae.
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Sale/Acquisition