February 6, 2020
Alto Real Estate Funds has acquired Prince William Square, a 232,957-square-foot shopping center in the D.C. suburb of Woodbridge, VA. The sales price was $37.9 million.
The center is located at 14200-14520 Smoketown Rd., approximately 27 miles southwest of Washington D.C. Tenants at the 89% leased center include Ross Dress for Less, Mom’s Organic Grocer, dd’s Discounts, Ashley Furniture, Harbor Freight Tools and Jo-Ann Fabrics.
Walker & Dunlop secured a $25 million acquisition loan on behalf of Alto through lender Morgan Stanley. Terms included a seven-year term and a fixed interest rate. The seller was undisclosed.
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