Investor demand for suburban workforce housing has remained strong throughout the coronavirus pandemic, with the latest deal closing for nearly 1,000 units in Northern Virginia. A joint venture of Foulger-Pratt and Bridge Investment Group acquired two Woodbridge apartment communities totaling 963 units from The Hylton Group, Bisnow has learned. Ideal Realty Group brokered the sale, and Berkadia arranged the acquisition financing, a loan with Freddie Mac of more thanContinue reading “Foulger-Pratt JV Buys 963 Northern Virginia Apartments In Major Value-Add Play”
Monthly Archives: October 2020
As D.C. Apartment Owners Compete For Renters, WiFi Becoming A More Important Amenity
The pandemic has slowed demand for apartment buildings in the District as some renters shift to suburban areas, and developers with downtown projects are increasingly competing with each other for tenants. As the competition intensifies, developers are having to focus more on improving their amenities and service offerings for residents who are spending more time at home. One of theContinue reading “As D.C. Apartment Owners Compete For Renters, WiFi Becoming A More Important Amenity”
East Village is Moving Forward
MAC Realty Advisors (MAC), on behalf of Foulger-Pratt and Promark Partners placed a $72.5 million long-term, fixed-rate construction-to-permanent loan from a national lender for the development of North Bethesda Gateway. This project is a new 335-unit luxury apartment community in the North Bethesda-White Flint submarket of Montgomery County, Maryland. The transaction closed in September 2020.Continue reading “East Village is Moving Forward”
Amenities Drive Luxury Rental Choice
As in many parts of the District, the Hill and nearby neighborhoods have seen their fair share of new luxury apartment buildings. Representatives of these new developments say that amenities are key to the success of these projects. Built with golf simulators, dog wash stations, indoor basketball courts, and rooftop pools with fire pits —let’sContinue reading “Amenities Drive Luxury Rental Choice”