Foulger-Pratt Sells Alexandria Apartments For $53M
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.
