{"id":1004141637,"date":"2016-04-13T05:06:07","date_gmt":"2016-04-13T13:06:07","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004141637"},"modified":"2021-05-15T08:09:20","modified_gmt":"2021-05-15T16:09:20","slug":"jefferson-apartment-group-acquires-community-in-booming-d-c-suburb","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/jefferson-apartment-group-acquires-community-in-booming-d-c-suburb\/","title":{"rendered":"Jefferson Apartment Group Acquires Community in Booming D.C. Suburb"},"content":{"rendered":"

By Bogdan Odagescu, Associate Editor<\/em><\/p>\n

\"Somerset<\/a>

Somerset Park Apartments, Leesburg, Va.<\/p><\/div>\n

Washington<\/strong>\u2014Jefferson Apartment Group<\/a> (JAG) announced it has acquired Somerset Park Apartments<\/a> in Leesburg, Va. The property will be managed by JAG Management. No financial details have been disclosed and the Loudoun County online records did not reflect the transaction at the time of publication. The last time the asset changed hands was at the end of 2011, when the transaction between seller Arcadia-Leesburg LC and buyer Home Properties Somerset Park LLC commanded $20.25 million.<\/p>\n

Located at 700-705 Somerset Park Drive in Leesburg, the six-building multifamily property<\/a> is within a 20-minute drive from the Dulles International Airport, offering great commutes for high density office clusters<\/a> including the Route 28 corridor, Herndon, Reston, and Tysons Corner. The property lot can support the development of 42 additional units, plus the expansion of community amenities.<\/p>\n

The 108-unit Class A condo community, which was originally built in 2007, features one- and two-bedroom apartments, as well as townhome style units. A one-bedroom unit occupies 755 square feet, while the two-bedroom ones offer three floor plans ranging between 960 and 1330 square feet. The community showcases amenities including a spacious clubhouse with a fitness center, picnic area, walking paths, in-unit washer\/dryer, optional fireplaces and landscaped grounds. Somerset Park is conveniently situated for several large shopping centers, numerous dining options and other amenities.<\/p>\n

\u201cSomerset was a unique opportunity to buy a well-positioned multifamily asset that can be expanded by constructing two additional buildings, as well as invest capital in the common area and the units to generate significant rent premiums\u201d said Kevin Smith, SVP & acquisition partner at JAG, in a prepared statement.<\/p>\n

Image courtesy of Jefferson Apartment Group<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Somerset Park Drive, a six-building, 108-unit multifamily community bought by JAG, offers quick access to high density office clusters around North Virginia. <\/p>\n","protected":false},"author":740,"featured_media":1004141638,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21743,11,21742,1615],"tags":[],"class_list":["post-1004141637","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-deals","category-midatlantic","category-latest","category-washington-dc"],"acf":[],"yoast_head":"\nJefferson Apartment Group Acquires Community in Booming D.C. Suburb - 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\/jefferson-apartment-group-acquires-community-in-booming-d-c-suburb\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Jefferson Apartment Group Acquires Community in Booming D.C. 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