Haven Fort Belvoir

Acquisition of an existing 76-unit apartment community in Alexandria, Virginia.

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

The 76-unit garden-style community, which was built in 1965, is located in Alexandria, Virginia at the main entrance to Fort Belvoir. Fort Belvoir is a primary economic driver in the Alexandria-Fairfax County marketplace.

Insight and investment partner, Fundrise, acquired Haven Fort Belvoir (formerly Canterbury Square) in June of 2016 for $9,700,000. Post-acquisition Insight engaged in a rigorous asset management program which included re-branding the property, and implementing value-add renovations to the property’s units, exteriors and landscaping.

Haven Mount Vernon was sold in February 2021 after successfully executing the value-add business plan.

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9186 Richmond Highway
Alexandria, Virginia

Status

Realized.

Acquired

Acquired in June 2016 for $9,700,000.

Transaction type

Existing Multifamily.

Construction type

3 story block frame.

Residential units

76 units.

Construction Start date

July 2016 (Value-Add Program).

Completion Date

July 2018.

Investment Partner

Fundrise.

Lender

New York Community Bank.