WASHINGTON, DC – Cassidy Turley, a leading commercial real estate services provider in the U.S., announced today that it represented The JBG Companies in the sale of Sedona and Slate, located at 1510 and 1530 Clarendon Blvd. in Arlington, Virginia. The property was purchased by ASB Real Estate Investments for $222 million.
Paul Collins, Bill Collins and Christopher Doerr of Cassidy Turley represented The JBG Companies in the 474-unit mixed-use multi-family and retail transaction.
“JBG did a terrific job developing a best-in-class asset,” said Mr. Doerr. “There was tremendous competition for this project which illustrates the strength of the DC multi-family market.”
These two newly-constructed trophy apartment buildings consist of 474 units located along Clarendon Boulevard in Rosslyn, allowing residents convenient access to the Rosslyn and Court House Metro stations serving the blue and orange lines as well as major vehicular thoroughfares including I-66, Route 50 and the George Washington Memorial Parkway. The building also features 10,080 square feet of ground floor retail space. On-site amenities for these two buildings include a 24-hour concierge, controlled-access, ¾-acre urban park offering outdoor seating and grilling stations, Wifi, bicycle room, business center, fitness center, rooftop deck with pool and on-site restaurants.
Sedona is a 15-story, 271-unit high-rise tower that delivered in the second quarter of 2013 and features 1,580 square feet of ground floor retail.
Slate is a 12-story, 203-unit high-rise tower that delivered in the third quarter of 2013. The property features 8,500 square feet of ground floor retail.
Sedona and Slate are anticipated to be Arlington County’s first residential LEED Gold Certified New Construction.
About The JBG Companies
Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in the Washington Metropolitan Area. Since 1960, JBG has been active in the communities where it invests, striving to make a positive impact. More information, please visit www.JBG.com, or call 240.333.3600.
About ASB Real Estate Investment
ASB Real Estate Investments (ASB), a division of ASB Capital Management, LLC, is a leading U.S. real estate investment management firm with over $4.4 billion* in gross assets under management for approximately 213 institutional clients. Headquartered in Washington DC, ASB invests in major urban markets across the country, concentrating in office, multi-family, retail and industrial properties. Applying a disciplined strategy, ASB manages the Allegiance Fund, its sole vehicle for core investing, as well as a value-add fund and a development separate account.
ASB’s Allegiance Fund is a $3.1 billion real estate investment vehicle. The Allegiance Fund owns 66 investments in office, multi-family, retail and industrial properties nationwide. For more information about the company, visit www.asbrealestate.com.
About Cassidy Turley
Cassidy Turley is a leading commercial real estate services provider with more than 3,800 professionals in more than 60 offices nationwide. With headquarters in Washington, DC, the company represents a wide range of clients—from small businesses to Fortune 500 companies, from local non-profits to major institutions. The firm completed transactions valued at $22 billion in 2012, manages approximately 400 million square feet on behalf of institutional, corporate and private clients and supports more than 23,000 domestic corporate services locations. Cassidy Turley serves owners, investors and tenants with a full spectrum of integrated commercial real estate services—including capital markets, tenant representation, corporate services, project leasing, property management, project and development services, and research and consulting. Cassidy Turley enhances its global service delivery outside North America through a partnership with GVA, giving clients access to commercial real estate professionals in 65 international markets. Please visit www.cassidyturley.com for more information about Cassidy Turley.