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September 18, 2020 Comments Off on Brightwood Apartment Property Trades for $40M Views: 892 D.C. News, Top Washington, D.C., Washington, D.C. News

Brightwood Apartment Property Trades for $40M

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An affiliate of Swedish Investor Akelius has acquired Rittenhouse Apartments, a 208-unit apartment building in Washington D.C.’s Brightwood neighborhood. The sales price was $40.2 million, according to various media outlets.

Located at 6101 16th St. NW, the property was built in 1990 and was the most recent apartment perpoty of more than 200 units developed in the area. The apartment building last traded in 2011 for $30.7 million to Henderson Global Investors. Henderson’s U.S. portfolio was acquired in 2013 by the real estate arm of TIAA, which rebranded as Nuveen Real Estate last year.

Greysteel represented the seller, Nuveen Real Estate, in the transaction. The sales price was a record for the submarket, according to Greysteel CEO Ari Firoozabadi.

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