JLL sells Station on Silver multi-housing property in Herndon
JLL Capital Markets closed the sale of the apartments in Fairfax County, Virginia
WASHINGTON D.C., December 3, 2020 – JLL Capital Markets announced today that it closed the sale of the Station on Silver multi-housing property in Herndon, Virginia.
JLL worked on behalf of Woodfield Development to close the property sale.
The property consists of 400 units averaging 850 square feet each and features European-style cabinetry, stainless-steel appliances, quartz vanities and porcelain tile flooring in the bathrooms, walk-in closets and high-end fixtures throughout. Top-of-the-line community amenities include a fitness center, pool, lounge and fire pits, courtyard, media room and rooftop deck equipped with an outdoor kitchen, bar and remarkable views of the Blue Ridge Mountains.
Located at 2340 Carta Way, Station on Silver is part of a 63-acre urbanization offering a generously balanced live-work-play community. The property is just steps away from the Innovation Center Metro station and is highly centralized in a transit-oriented community with smooth public transportation and vehicular access to the Washington D.C. region. Station on Silver is also proximate to various employment hubs including Reston Town Center (26.1 million square feet of office space), Tysons Corner (22.7 million square feet of office space), the Rosslyn-Ballston Corridor (12 million square feet of office space) and nearby Inova, undergoing 5 million square feet of redevelopment.
The JLL Capital Markets team representing the seller was led by Managing Directors Walter Coker and Brian Crivella and Director Robert Jenkins.
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 advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $18.0 billion in 2019, operations in over 80 countries and a global workforce of over 92,000 as of September 30, 2020. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.
About Woodfield Development
Woodfield Development is a premier developer and operator of Class A multifamily communities in the Mid-Atlantic and southeastern United States. The partners in Woodfield share a depth of experience in development, asset management and real estate capital markets. Since the formation of the company in 2005, Woodfield has completed 35 communities, has seven communities under construction and 22 projects at various stages of entitlement and design. From the first development and each one thereafter, Woodfield Development’s singular goal has been to deliver well-conceived, thoughtfully designed, market-supported projects that hit the mark and then some. With a track record that stands alone, Woodfield Development sets out to assemble the best team of designers, consultants, architects, contractors and capital sources – every project, every time.