HFF announces $62.3M sale of 308-unit multi-housing community in Alexandria, Virginia

20 September 2018

WASHINGTON, D.C. – Holliday Fenoglio Fowler, L.P. (HFF) announces the $62.3 million sale of Bennington Crossings, a 308-unit, garden-style multi-housing community in Alexandria, Virginia.

The HFF team marketed the property exclusively on behalf of the seller, JBG SMITH, and procured the buyer, Morgan Properties.

Bennington Crossings is situated on 13.1 acres at 441 N. Armistead Street inside the Capital Beltway (Interstate 495) and just off Interstate 395.  Positioned two miles north of the Van Dorn Metrorail station, the property is highly accessible to major employment centers at Mark Center, Arlington, Tysons and Washington, D.C. as well as countless dining, entertainment and recreation attractions in the D.C. Metro, including Old Town Alexandria, Shirlington, the Rosslyn-Ballston Corridor, Crystal City and Pentagon City.  The property consists of 22 three- and four-story residential buildings containing a mix of one-, two- and three-bedroom units averaging 943 square feet.  Community amenities include a swimming pool with sundeck, playground, fitness center and an on-site DASH bus stop.

The HFF team representing the seller included Walter Coker and Brian Crivella.

“Given the tremendous activity in the Alexandria submarket and Northern Virginia, Bennington Crossings presented an ideal value-add opportunity for the buyer,” Coker said.