{"id":1004113079,"date":"2015-02-09T08:39:41","date_gmt":"2015-02-09T16:39:41","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=322718"},"modified":"2021-05-14T17:18:17","modified_gmt":"2021-05-15T01:18:17","slug":"boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/","title":{"rendered":"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios"},"content":{"rendered":"<p style=\"text-align: justify\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<div id=\"attachment_322720\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/The-Residences-on-The-Avenue.png\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-322720\" title=\"The Residences on The Avenue\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/The-Residences-on-The-Avenue.png\" alt=\"\" width=\"300\" height=\"194\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">The Residences on The Avenue<\/p>\n<\/div>\n<p style=\"text-align: justify\">Two big apartment owners found buyers for Washington, D.C.-area apartment properties, an indication of investors&#8217; continued interest in the market.<\/p>\n<p style=\"text-align: justify\">Boston Properties Inc. disclosed in its recently released quarterly earnings statement that it reached a deal on Jan. 15 to sell The Residences on The Avenue in Foggy Bottom to an unnamed buyer. The sale price is $196 million. The Boston-based real estate investment trust also said it has agreed to provide net operating income support of as much as $6 million should the property\u2019s net operating income fail to achieve certain thresholds.<\/p>\n<p style=\"text-align: justify\">The Residences on The Avenue offers 335 studio, one- and two-bedroom apartments. It also includes approximately 50,000 square feet of retail space, with Whole Foods among its tenants. The project was developed under a ground lease with George Washington University that expires on Feb. 1, 2068.<\/p>\n<p style=\"text-align: justify\">Rochester, N.Y.-based Home Properties Inc. is also reducing its D.C. footprint. In December, the company sold two of its apartment communities in Silver Spring. They are the 228-unit Woodleaf Apartments and the 435-unit Manor Apartments.<\/p>\n<p style=\"text-align: justify\">Home Properties also announced the sale of the 672-unit New Colonies apartment community in Steger, Ill. The company said it received $157 million for the three properties.<\/p>\n<p style=\"text-align: justify\"><em>Photo credit: <a href=\"https:\/\/www.theavenueliving.com\" rel=\"nofollow\">www.theavenueliving.com<\/a><\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Investors continue to show a lot of interest in the Washington, D.C. apartment market. Last week, it was revealed that three more apartment communities in the area have changed hands this winter or are under contract to change hands.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742,1615],"tags":[],"class_list":["post-1004113079","post","type-post","status-publish","format-standard","hentry","category-latest","category-washington-dc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios\" \/>\n<meta property=\"og:description\" content=\"Investors continue to show a lot of interest in the Washington, D.C. apartment market. Last week, it was revealed that three more apartment communities in the area have changed hands this winter or are under contract to change hands.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2015-02-09T16:39:41+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2021-05-15T01:18:17+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/The-Residences-on-The-Avenue.png\" \/>\n<meta name=\"author\" content=\"Adrian Maties\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/\"},\"author\":{\"name\":\"Adrian Maties\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"headline\":\"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios\",\"datePublished\":\"2015-02-09T16:39:41+00:00\",\"dateModified\":\"2021-05-15T01:18:17+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/\"},\"wordCount\":224,\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/The-Residences-on-The-Avenue.png\",\"articleSection\":[\"News\",\"Washington D.C.\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/\",\"name\":\"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios - Commercial Property Executive\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/The-Residences-on-The-Avenue.png\",\"datePublished\":\"2015-02-09T16:39:41+00:00\",\"dateModified\":\"2021-05-15T01:18:17+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\"},\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/#primaryimage\",\"url\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/The-Residences-on-The-Avenue.png\",\"contentUrl\":\"https:\\\/\\\/synd.yardi.com\\\/wp-content\\\/uploads\\\/sites\\\/46\\\/2015\\\/02\\\/The-Residences-on-The-Avenue.png\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\\\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#website\",\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/\",\"name\":\"Commercial Property Executive\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/6dfc8d1c9006c9fd1c89d69133130109\",\"name\":\"Adrian Maties\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g\",\"caption\":\"Adrian Maties\"},\"url\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/author\\\/adrianmaties\\\/\"}]}<\/script>\n<!-- \/ Yoast SEO Premium plugin. -->","yoast_head_json":{"title":"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios - Commercial Property Executive","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/","og_locale":"en_US","og_type":"article","og_title":"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios","og_description":"Investors continue to show a lot of interest in the Washington, D.C. apartment market. Last week, it was revealed that three more apartment communities in the area have changed hands this winter or are under contract to change hands.","og_url":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/","og_site_name":"Commercial Property Executive","article_publisher":"https:\/\/www.facebook.com\/CPExecutive","article_published_time":"2015-02-09T16:39:41+00:00","article_modified_time":"2021-05-15T01:18:17+00:00","og_image":[{"url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/The-Residences-on-The-Avenue.png","type":"","width":"","height":""}],"author":"Adrian Maties","twitter_card":"summary_large_image","twitter_creator":"@cpexecutive","twitter_site":"@cpexecutive","schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/#article","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/"},"author":{"name":"Adrian Maties","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109"},"headline":"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios","datePublished":"2015-02-09T16:39:41+00:00","dateModified":"2021-05-15T01:18:17+00:00","mainEntityOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/"},"wordCount":224,"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/The-Residences-on-The-Avenue.png","articleSection":["News","Washington D.C."],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/","url":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/","name":"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios - Commercial Property Executive","isPartOf":{"@id":"https:\/\/www.commercialsearch.com\/news\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/#primaryimage"},"image":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/#primaryimage"},"thumbnailUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/The-Residences-on-The-Avenue.png","datePublished":"2015-02-09T16:39:41+00:00","dateModified":"2021-05-15T01:18:17+00:00","author":{"@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109"},"breadcrumb":{"@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/#primaryimage","url":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/The-Residences-on-The-Avenue.png","contentUrl":"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/02\/The-Residences-on-The-Avenue.png"},{"@type":"BreadcrumbList","@id":"https:\/\/www.commercialsearch.com\/news\/boston-properties-home-properties-reduce-d-c-area-apartment-portfolios-2\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.commercialsearch.com\/news\/"},{"@type":"ListItem","position":2,"name":"Boston Properties, Home Properties Reduce D.C.-Area Apartment Portfolios"}]},{"@type":"WebSite","@id":"https:\/\/www.commercialsearch.com\/news\/#website","url":"https:\/\/www.commercialsearch.com\/news\/","name":"Commercial Property Executive","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.commercialsearch.com\/news\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.commercialsearch.com\/news\/#\/schema\/person\/6dfc8d1c9006c9fd1c89d69133130109","name":"Adrian Maties","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/5d44b73a0d511e855d0ea5f29d28e7d8527c86a0c6c0f67be8f2e9642a9d9e8d?s=96&d=mm&r=g","caption":"Adrian Maties"},"url":"https:\/\/www.commercialsearch.com\/news\/author\/adrianmaties\/"}]}},"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004113079","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/users\/925"}],"replies":[{"embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/comments?post=1004113079"}],"version-history":[{"count":3,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004113079\/revisions"}],"predecessor-version":[{"id":1004531224,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/posts\/1004113079\/revisions\/1004531224"}],"wp:attachment":[{"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/media?parent=1004113079"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/categories?post=1004113079"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.commercialsearch.com\/news\/wp-json\/wp\/v2\/tags?post=1004113079"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}