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

Related Cos. Sells Alpharetta Apartments For More Than $100M

Chicago's Slow Apartment Pipeline Fueling Deals And Adaptive Reuse

Real Estate Firm Debuts With $126M Purchase Of Historic D.C. Building

1,068-Unit Philly Apartment Complex Hits The Market

Developer Rishi Kapoor Sentenced To 11 Years For Money Laundering, Tax Fraud

Surging Costs Force Alexandria Developers To Shift Plans

Healey Awards $15M To Help Advance 5 Residential Conversion Projects

Buyer Of BXP's Sumner Square Revealed: The D.C. Deal Sheet

Laramar Group Pays $166M For 43-Story South Loop Apartment Building

Feds Raid North Texas-Based Contractor As Part Of HUD Investigation

Chicago Firm Proposes 40-Story Apartment Tower In Mid-Market

Philly LIHTC Gap Funding Changes Aim To Accelerate Affordable Housing Projects