Greystar is selling an apartment building near the Spring Hill station on Metro’s Silver Line as it continues its development streak in Greater Washington.
Charleston, South Carolina-based Greystar sold the 404-unit Ascent apartment building in McLean for $150.5 million in a transaction that closed Oct. 1, according to Fairfax County records. An affiliate of Brookfield Properties was the buyer of the 416,834-square-foot, 26-story apartment building Greystar completed in 2014 as part of a larger construction boom associated with the opening of the Silver Line. Brookfield has begun marketing the property by its address, 8421 Broad, with rents that start at $1,900 a month.
Greystar has been reinvesting the capital from its sales into new development. The company on Wednesday announced it had secured $140 million in financing for a planned 343-unit apartment building in College Park in partnership with Terrapin Development Company. Work on the project, led by architecture firm WDG and general…
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