{"id":1004118795,"date":"2015-05-05T20:00:18","date_gmt":"2015-05-06T04:00:18","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=345849"},"modified":"2020-05-11T00:31:55","modified_gmt":"2020-05-11T08:31:55","slug":"redbrick-david-werner-buy-2175-unit-apartment-portfolio-in-fairfax-county","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/redbrick-david-werner-buy-2175-unit-apartment-portfolio-in-fairfax-county\/","title":{"rendered":"Redbrick, David Werner Buy 2,175-Unit Apartment Portfolio in Fairfax County"},"content":{"rendered":"<p style=\"text-align: justify;\"><em>By Adrian Maties, Associate Editor<\/em><\/p>\n<p style=\"text-align: justify;\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/matrixdc.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"alignright size-medium wp-image-345861\" title=\"Matrix\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2015\/05\/matrixdc.jpg\" alt=\"\" width=\"192\" height=\"300\" \/><\/a>After registering several important transactions in April, the Greater Washington apartment market ended the month in full force, with the sale of a 2,175-unit multifamily portfolio in Fairfax County.<\/p>\n<p style=\"text-align: justify;\">Redbrick LMD and David Werner Real Estate Investments purchased the portfolio. It consists of three apartment communities: the Amberleigh, in Merrifield; the Avant, in Annandale; and the Edgemoore in Alexandria. The properties offer a mix of one-, two- and three-bedroom units, with such amenities as swimming pools, fitness centers and business centers.<\/p>\n<p style=\"text-align: justify;\">The acquisition was financed with a $401.9 million, 10-year term senior loan secured by Walker &amp; Dunlop from Fannie Mae. Redbrick, DWREI, The Stillman Group, the Hamilton Group and other investors provided equity financing.<\/p>\n<p style=\"text-align: justify;\">The new owners have selected Kettler to manage the properties, and will renovate the buildings, Louis Dubin, managing partner of Redbrick LMD, said in a press release. The projects will start this summer and will include improvements to the units and added amenities.<\/p>\n<p style=\"text-align: justify;\">According to <a href=\"https:\/\/www.yardi.com\/products\/matrix\/\" rel=\"nofollow\" ><em>Yardi Matrix\u2019s<\/em><\/a> April <a href=\"https:\/\/www.pi-ei.com\/downloads\/reports\/matrix-monthly\/Yardi-Matrix-Monthly-Apr-2015.pdf\" ><em>apartment report<\/em><\/a>, the Washington, D.C., apartment market has shown signs of life in recent months, with rents registering a 1 percent increase since March. Though slight, that represents an encouraging sign, given the Mid-Atlantic area&#8217;s sluggish recent rent growth. This improved performance could signal the beginning of a trend.<\/p>\n<p style=\"text-align: justify;\"><em>Charts courtesy of <\/em><a href=\"https:\/\/www.yardi.com\/products\/matrix\/\" rel=\"nofollow\" ><em>Yardi Matrix<\/em><\/a><em>.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"<p>After registering several important transactions in April, the Greater Washington apartment market ended the month in full force, with the sale of a 2,175-unit multifamily portfolio in Fairfax County.<\/p>\n","protected":false},"author":925,"featured_media":0,"comment_status":"open","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-1004118795","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) - 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