Acquisition of an existing 576-unit apartment community in Falls Church, Virginia.
An opportunity to implement a value-add strategy on a large-scale existing apartment community.
This 576-unit mid-rise community, which was built in 1974, is located in Falls Church, Virginia. Insight and partner Pacific Coast Capital Partners acquired Oakwood Falls Church in June of 2018 for $132,000,000. Insight plans to invest additional funds to enhance common-areas, amenities and landscape improvements.
For Insight and PCCP, Oakwood Falls Church represents an extremely rare opportunity to acquire and re-position an institutional-scale community located in a trememndously desireable in-fill location. The property is walking distance to the East Falls Church Metro Station. Residents enjoy easy access to Route 66, the Capital Beltway and most major Washington-area employment centers including DC, Tysons Corner, Merrifield and the Rosslyn-Ballston Corridor. Oakwood is also adjacent to Edens Center, an international marketplace that has become a premier mid-atlantic destination.