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 off 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. Upon acquisition, Insight began to re-brand the property and implement a value-add program to the property’s management office, exteriors and landscaping.
The plan is to own and operate the asset for long-term cash flow. The Haven Columbia Pike acquisition is the fourth of many value-add opportunities planned to be acquired by the Insight/Fundrise venture. The venture goal is to acquire assets totaling $200,000,000 per year.