August 20, 2019
Washington REIT has acquired Cascade at Landmark Apartments, a 277-unit multifamily community in Alexandria, VA. The sales price was reported as $70 million.
Located at 300 Yoakum Pkwy., the property opened in 1988 and offers one- and two-bedroom units with stainless-steel appliances, granite countertops, plank flooring and patios. Community amenities include a business center, clubhouse, fitness center, tennis court, swimming pool and parking garage. Rents range from $1,546 to $3,076 per month.
The seller was Greystar Real Estate Partners of Charleston, SC, which acquired the property in 2013 for $68.6 million.
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