Fraser Forbes Real Estate Services Announces $11.8 Million Closing in Arlington, VA
McLean, Virginia – June 20, 2011 – Fraser Forbes Real Estate Services is pleased to announce the closing of 650 North Glebe Road in Arlington, VA. The site currently occupied by a Goodyear Store, in Ballston, to a joint venture between Crimson Partners and Washington Real Estate Investment Trust (WRIT) for $11.8 million on June 16. The venture will develop a 150 unit mid-rise apartment community with a total project cost of $43.5MM and is expected to deliver in late 2013 or early 2014.
"Fraser Forbes is proud to have been an integral part of this important transaction” said Fraser Forbes CEO Richard Samit.
About Fraser Forbes
Founded in 1995, Fraser Forbes Real Estate Services (http://www.fraserforbes.com) is the premier, full-service real estate firm in the DC/VA/Baltimore metro area market, specializing in land. The firm’s senior management has over 100 years of experience. The company’s service groups include Land Sales, Financing Services, Management Services and Advisory Services. Fraser Forbes has consummated over 450 land transactions valued at in excess of $3.5 billion including over 35,000 residential lots and land entitled for in excess of 6 million square feet of commercial development. Whether representing clients buying and selling raw land for future development, brokering real estate transactions slated for office, retail, hotel and industrial uses, or rendering financing advisory and management services, Fraser Forbes empowers its clients to earn the highest returns on their investments.
