October 19, 2016
A joint venture between Fundrise affiliate RSE Capital and Insight Property Group acquired a two-property multifamily portfolio totaling 354 units in Virginia. The partners paid $57.9 million for Sacramento Square Apartments and Lancaster Mill. Dean Sigmon and Robin Williams with Transwestern represented the seller, who was not disclosed.
The partners announced their intent through real estate crowdfunding platform Fundrise in late summer. The acquisition is part of the JV’s plan to invest $200 million annually in Washington, DC-based real estate. The goal is to acquire value-add assets, and reposition them.
The 216-unit Sacramento Square Apartments is at 5401 Claymont Dr. in Alexandria, VA. The 138-unit Lancaster Mill is at 13940 Longwood Manor Court in Woodbridge, VA.
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