October 1, 2020
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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