Foulger-Pratt Sells Alexandria Apartments For $53M

Alexandria Station
The Alexandria Station Apartment Community At 326 South Whiting St.

Foulger-Pratt is continuing to unload apartment properties in the D.C. suburbs, this time selling an Alexandria garden-style community.

The Potomac-based firm sold the 290-unit Alexandria Station apartments to Irvine, California-based Avanth Capital Management in late February for $52.6M, according to the Reonomy platform.

Pages detailing the property on Avanth's and Foulger-Pratt's websites both confirm the sale closed in February but do not disclose the price. Foulger-Pratt acquired the property for $26.5M in September 2009, property records show.

The community, constructed in 1969, includes a series of three-story apartment buildings near the intersection of South Whiting Street and Clayton Lane. The property is less than 1 mile from the Landmark Mall, an aging suburban shopping mall that has been tapped for a massive redevelopment of over 5M SF.

The deal comes after Foulger-Pratt last month sold the third and final piece of a three-property, 1,100-unit Prince George's County apartment portfolio it put on the market in January 2018.

Continue reading this story with a free account

Log in or register
Sign up for more articles like this
Subscribe to Bisnow's Washington, D.C. Newsletters
Related Stories

Ruben Cos. Says It Can't Sell, Finance Navy Yard Multifamily Project

D.C. Court Tosses Lawsuit Over Proposed Rent-Freeze Ballot Initiative

Troubled Multifamily Loans Face A Refinancing Problem: Who Puts In New Equity?

NYC Pushes To Use Opportunity Zone 2.0 For Mamdani's Housing Goals

DOJ Charges LA Nonprofit Workers With Misusing $8.7M Meant For Housing Aid

Bugatti Lends Brand To 60-Story Miami Condo Tower

Loudoun County Moves To Pause Data Center Applications For 12 Months

Why Top-Secret Facilities Are Permeating Greater D.C.'s Office Market

With Occupancy Brimming, Investors Pile Into Bay Area Apartments

FBI Drops Investigation Into Financially Troubled StoryBuilt

GTIS Partners Rebrands As Brightshore Capital, Launches $250M Debt Platform

Dublin BTR Had A €1B Summer