Acquisition of an existing 216-unit apartment community in Alexandria, Virginia.
An opportunity to implement a value-add strategy on an existing apartment community.
The 216-unit garden-style community, which was built in 1985, is located along the Route 1 Corridor in Alexandria, Virginia near 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 Mt. Vernon (formerly Sacramento Square) in September of 2016 for $37,750,000. Post-acquisition Insight engaged in a rigorous asset management program which included new property management, 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.