Haven Columbia Pike

Acquisition of an existing 118-unit apartment community in Arlington, Virginia.

Implementing a value-add strategy on an existing apartment community.

The 118-unit garden-style community is located in Arlington, Virginia close to Columbia Pike. The Columbia Pike corridor is a primary economic driver in the Arlington County marketplace.

Insight and partner Fundrise acquired Haven Columbia Pike (formerly Tyroll Hills) in January of 2017 for $20,250,000. Post-acquisition Insight engaged in a rigorous asset management program which included new property management, rebranding the property, and implementing value-add renovations to the property’s units, exteriors and landscaping. The business plan is to own and operate the asset for long-term cash flow.

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5100 7th Road South
Arlington, Virginia

Status

Operating.

Acquired

Acquired in January 2017.

Transaction type

Existing Multifamily.

Construction type

3 story block frame.

Residential units

118 units.

Construction Start date

January 2017 (Value-Add Program).

Completion Date

January 2018.

Investment Partner

Fundrise.

Lender

Capital One/Fannie Mae.