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Case Study

JLL attracts offshore buyer to Washington, DC’s multifamily market

​​​Foreign investors haven’t fully embraced the U.S. multifamily sector – but they’re certainly dipping their toes in the water. Although familiar with U.S. multifamily product, Sweden-based Akelius US LLC’s purchase of Munson Hill Towers marks the investor’s first multifamily purchase in Washington, DC’s market.

Akelius is one of the largest multifamily investor groups in Europe, more recently investing in Boston and New York to diversify its portfolio. Munson Hill Towers, a 279-unit asset, was a value-add opportunity – not a common acquisition target among foreign investors. But knowing Akelius’ affinity for workforce housing, and the fact that the property is located in a ‘first-tier suburb,’ fueled the sale in this new market. The ‘live, work, play’ dynamic near the area’s top employers and retailers didn’t hurt either.

By understanding the intricacies of the buyer persona as well as the merits of a prime multifamily location and the strength of U.S.’s growing renter demographic, JLL was able to assist Akelius on their entry to a new market.

JLL’s access to foreign capital and ability to identify the right potential investors is unparalleled. 

Learn more about the firm’s multifamily investment sales capabilities or contact the team

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