Acquisition of an existing 576-unit apartment community in Falls Church, Virginia.
An opportunity to implement a value-add strategy and completely re-position 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 Falls Green in June of 2018 for $132,000,000. Insight is investing significant additional funds to enhance common-areas, amenities and landscape improvements.
For Insight and PCCP, Falls Green represents an extremely rare opportunity to acquire and reposition an institutional-scale community located in a tremendously desirable 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, the Rosslyn-Ballston Corridor, and National Landing. Falls Green is also adjacent to Edens Center, an international marketplace that has become a premier Mid-Atlantic destination.