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News release

Washington, DC

JLL arranges $65 million sale of Fairmont Gardens

WASHINGTON, Aug. 21, 2017JLL's Capital Markets experts today announced the company arranged the sale of Fairmont Gardens, a 388-unit multifamily complex in Annandale, Virginia. Capital Investment Advisors purchased the community from The JBG Companies for $65 million.

Fairmont Gardens small.jpgManaging Director Christine Espenshade and Executive Vice Presidents Robert Garrish and Shawn McDonald led the JLL team on the transaction.

"The multifamily market in suburban D.C. is strong and poised for continued growth," said Espenshade. "Investors are seeking value-add product in prime locations, and Fairmont Gardens delivered on both fronts."

Fairmont Gardens is located near the I-495 and Little River Turnpike and an array of shopping, dining and entertainment outlets. Residents benefit from convenient access to public transportation options and accessibility to downtown Washington, DC.

JLL delivers multifamily investors a full range of solutions through one diverse, integrated platform. With access to thousands of domestic and foreign investors, our team of over 200 professionals provides comprehensive investment sales and dispositions services. We are also one of the nation's largest multifamily and seniors housing lenders with comprehensive loan underwriting, asset management and loan servicing capabilities.

JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether a sale, financing, repositioning, advisory or recapitalization execution. In 2016 alone, JLL Capital Markets completed $145 billion in investment sale and debt and equity transactions globally. The firm's Capital Markets team comprises more than 2,000 specialists, operating all over the globe.

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