$80.1M infill, mixed-use multi-housing community in Washington, D.C. area sells

WASHINGTON, D.C., August 30, 2021 – JLL Capital Markets announced today that it has closed the $80.1 million sale of Siena Park, a 188-unit, core, infill multi-housing community with 33,602 square feet of retail and 17,373 square feet of office space in Arlington, Virginia.

JLL marketed the property on behalf of the seller, Zurich Alternative Asset Management.

The property includes studio, one- and two-bedroom units averaging 844 square feet. The apartments feature luxury finishes and stainless steel appliances, contemporary cabinetry, granite counter tops, kitchen islands, built-in bookshelves, frost-free refrigerators and spacious bathrooms. Siena Park provides residents with a fitness center and weight room, game room with billiards, club house, outdoor pool, rooftop deck, coffee bar and cyber café and ground-floor retail, including dining, shopping and entertainment.

Located at 2301 Columbia Pike, Siena Park residents benefit from the proximity to retail, dining and entertainment at Village at Shirlington, the R-B corridor, Columbia Pike, Ballston Quarter, Ballston Exchange and Pentagon City retail. Residents can use the nearby Metro for direct access to some of the areas largest employers, including a variety of prestigious universities, government agencies, research entities and government contractors.

The JLL Capital Markets investment advisory team representing the seller included Senior Managing Directors Walter Coker and Brian Crivella and Directors Robert Jenkins and Bill Gribbin.

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 investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.

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