Equity Residential Buys Vista on Courthouse Apartments
1/01/2010
The Chicago-based real estate investment trust Equity Residential picked up the 212-unit Vista on Courthouse Square high-rise rental apartments, reportedly paying around $85 million for the property, or approximately $400,943 per unit.
Mark Anstine and Dan Lockard of Fraser Forbes represented Equity in the purchase from Sunburst Hospitality. The deed has not yet been recorded with the Arlington County Circuit Court.
Four months ago, Equity Residential acquired another Class A high-rise building in Arlington - the Metropolitan at Pentagon Row - from Cornerstone Real Estate Advisors. The price, $99.46 million, worked out to $305,092 for the 326-unit project, which is located at 1401 South Joyce Street.
Source: Virginia Newsletters, LLC
