Global Banking Firm Buys Arlington Apartments
- Jun 26, 2015
By Adrian Maties, Associate Editor
The Arlington apartment market continues to prove very attractive to investors from all over the world. The most recent multifamily property to change hands was acquired by a German global banking and financial services company.
Deutsche Bank, one of the world’s leading financial service providers, is now the new owner of The Avery Row Apartments in Arlington’s Rosslyn-Ballston Corridor. The Frankfurt-based company purchased the asset from Rolfe 67 LLC for an undisclosed price. Chris Doerr, senior managing director at DTZ, represented the seller in the transaction.
PropertyShark reports that the property’s current market value is a little over $12.3 million.
The Avery Row Apartments opened in 2012. It features 67 one- and two-bedroom units. The apartments have an average size of 1,121 square feet and are all equipped with granite countertops, stainless-steel appliances and designer lighting. Almost all of them have private outdoor space.
According to the community’s website, rents start from $2,345 per month for one-bedroom units and from $3,175 per month for two-bedrooms. The Avery Row Apartments also offers its residents a clubroom, courtyard, fitness center, cyber cafe, bike storage and a parking garage. In addition to these amenities, the building’s location, at 1200 N Rolfe St., places it close to many restaurants, shops and entertainment options.
Photo credit: www.averyrowapts.com