Insight Property Group LLC announced today that it has purchased the Windover Villas community of 90 single family homes located in Fredericksburg, Virginia, from an affiliate of California-based SunAmerica. According to Insight Principal Richard W. Hausler, Windover is the first of a series of pending affordable housing acquisitions by the McLean based multi-family developer. “Windover is unusual because it is a rental community of single family detached homes with yards, and it was built to be affordable from day one.” said Hausler. “That makes it ideal family housing. It fits in nicely with the other homes around it, and might be a good model for the future.”

Insight Property Group LLC announced today that it has completed the acquisition of 1200 Rolfe Street North, near the Courthouse Metro in Arlington, VA.

Insight’s latest acquisition is an existing 42 unit site within walking distance of Courthouse Metro, to be improved with a $24 million, 72-unit Class A multifamily building over a parking garage. Planned for construction in early 2011, it will be one of the first new development projects to break ground in the Rosslyn Ballston Corridor since the downturn in the real estate market.

Insight Property Group LLC announced today that it has hired Trent M. Smith to serve as its Director of Real Estate Investments. Mr. Smith will be responsible for managing the acquisition and development process for Insight as well as leading the firm’s asset management activities.

Prior to joining Insight, Mr. Smith was employed by apartment builder JPI as a Development Manager. While with JPI, Trent was responsible for multifamily development and mixed use projects from site selection through disposition. His portfolio included projects valued at approximately $150MM and included more than 600 units and 60,000 square feet of retail space. Mr. Smith also focused on structuring redevelopment proposals to prospective joint venture partners on behalf of JPI East.