WASHINGTON D.C. – JLL announced today it has closed the $141 million sale of Atley on the Greenway, a 496-unit, transit-oriented apartment community in the Washington, D.C.-area community of Ashburn, Virginia.
JLL marketed the property on behalf of the seller, Northwestern Mutual, and procured the buyer, Fairfield Residential. The property was acquired free and clear of existing financing.
Atley on the Greenway is located at 21827 High Rock Terrace in Northern Virginia’s affluent and amenity-rich Loudoun County submarket. Completed in 2014, the property benefits from visibility along the Dulles Greenway (Route 267) and is less than a mile from the new Ashburn Metro Station (Silver Line). The property features a variety of one-, two- and three-bedroom units averaging 1,001 square feet, 40 of which are designated as affordable. Community amenities include two swimming pools, an outdoor fireside lounge, poolside barbecue and picnic areas, children’s playground, 24-hour fitness center, multi-station business center, and an indoor social lounge with fireplace, TV lounge, gourmet demonstration kitchen and dining area. Since completion, the property has experienced an occupancy rate above 96%.
The JLL Capital Markets team representing the seller included Walter Coker and Brian Crivella.
TAMPA, FLA. – JLL announced today that it has closed the $103.45 million sale of 500 Harbour Island, a 235-unit, luxury high-rise community in Tampa.
JLL marketed the property on behalf of the seller, a joint venture between Forge Capital Partners and Intown/Framework Group, and procured the buyer, Northwestern Mutual. The property was acquired free and clear of existing financing.
500 Harbour Island is located on Harbour Island at the intersection of Knights Run Avenue and Beneficial Drive immediately south of downtown Tampa. The island boasts some of Tampa’s most expensive homes and condominiums and has a variety of on-island amenities, including restaurants, coffee shops, boat rentals and Harbour Island Athletic Club. Completed in 2017, the 21-story property offers a variety of spacious studio, one- and two-bedroom units averaging 1,087 square feet. The property offers five-star, hotel-style amenities, including an expansive two-story lobby with concierge; outdoor amenity deck with skyline views, al fresco dining and grilling, lounging areas and bocce court; private dog run with washing station; full-service spa and treatment rooms; heated, infinity-edge pool with waterfall, deck speaker system and cabana area; state-of-the-art fitness center; social spaces throughout the building for gaming, lounging, reading and entertaining; conference room with video conferencing and library area; and catering kitchen.
“Harbour Island is a wonderful place to live and will only get better as downtown Tampa continues to emerge as a premier live-work-play environment,” said John Jacobs of Northwestern Mutual Real Estate. “500 Harbour Island offers residents spacious, condominium-quality units with great amenities just a short distance from the excitement of the central business district.”
Northwestern Mutual has engaged ZRS Management, a leading property management company specializing in upscale apartment communities, to oversee 500 Harbour Island.
“With the acquisition of 500 Harbour Island, Northwestern Mutual has purchased a preeminent community in one of Tampa’s most sought-after neighborhoods” said Darren Pierce of ZRS Management. “ZRS is honored to expand our relationship with Northwestern Mutual and excited to create the highest caliber living experience for the residents of 500 Harbour Island.”
The JLL Capital Markets team representing the seller was led by Senior Managing Director Matt Mitchell and Senior Directors Zach Nolan and Brett Moss.
“This transaction is another example that the Tampa market is a top-tier market for commercial real estate investment,” Mitchell added. “The capital markets view Tampa’s growth and fundamentals very favorably, and the continued transformation of downtown Tampa is very appealing to investors.”
