Redbrick, David Werner Acquire 2,175 Resi Units
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Redbrick LMD and David Werner Real Estate Investments have acquired 2,175 garden-style apartments from Brookfield Asset Management for $402M. The deal includes a mix of one-, two- and three-bedroom units from the Amberleigh (pictured), the Avant and the Edgemoore in Fairfax County. Law360 reports that the deal was financed by a senior loan from Fannie Mae, secured by Walker & Dunlop. This is a step toward Redbrick's plans to finance large-scale projects. It will renovate each building and upgrade the units and amenities, which include outdoor swimming, a business center and a fitness center. [Law360]