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 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.

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5100 7th Road South
Arlington, Virginia

Status

Operating.
Value-Add program being implemented.

Acquired

Acquired in January 2017 for $20,250,000.

Transaction type

Existing Multifamily.

Construction type

3 story block frame.

Residential units

118 units.

Project cost

$22,157,000.

Construction Start date

January 2017 (Value-Add Program).

Completion Date

January 2018.

Investment Partner

Fundrise.

Lender

Capital One/Fannie Mae.