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.