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Akelius Residential Adds To DC Portfolio With $16.5M Purchase Of The Century

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Akelius Residential Adds To DC Portfolio With $16.5M Purchase Of The Century

Just weeks after making its first acquisition in the DC area, Akelius Residential Property has picked up another apartment building in the District.

The US division of the Swedish investment firm has acquired the Century, an 88-unit apartment building at 2651 16th St NW, for $16.5M. Late last month, the firm acquired a multifamily property at 2900 Adams Mills Rd for $8.5M, GlobeSt reports.

The Century is an eight-story building nestled in the Columbia Heights neighborhood that features a mix of studio and one-bedroom units. 

Akelius made its way into the US apartment market last year. The firm announced plans for about $1B in transactions, and began acquiring assets in the Northeast. Among its acquisitions last year was a six-building, 378-unit portfolio in New York City from DSA Management for $124.5M. [GS]