WASHINGTON, D.C. - HFF announced today that it has closed the sale of Broadstone Laurel Highlands, a 300-unit, Class A multi-housing community in Lorton, Virginia.
HFF marketed the property on behalf of the seller, Alliance Residential Company. MetLife Real Estate Investments purchased Broadstone at Laurel Highlands for $92.5 million free and clear of existing financing.
Broadstone at Laurel Highlands is located at 8141 McCauley Way in Southern Fairfax County offering close proximity to the still-expanding Fort Belvoir and immediate access to Interstate 95 and the Lorton Virginia Railway Express (VRE) station. Completed in 2011, the property features one-, two- and three-bedroom apartments plus three-bedroom townhomes averaging 1,119 square feet. Community amenities at the 96 percent leased Class-A community include a resident lounge, movie theatre, business center with coffee bar, fitness center, resort-inspired pool, outdoor fireplace, outdoor grill stations, tennis and basketball courts and a bark park.
The HFF team representing the seller was led by senior managing directors David Nachison and Alan Davis and director Brenden Flood.
“The property’s immediate success speaks to the unfilled niche of large apartment homes sought by military and military related families around Fort Belvoir,” said Nachison. “The mix of apartment homes, which includes 65 percent two- and three-bedroom floorplans offers residents the opportunity to send students to Fairfax County’s newest, and very highly regarded schools.”
Alliance is one of the largest private U.S. multifamily companies with offices throughout the West, Southwest, South-Central, Southeast, Mid-Atlantic and Northeast. The firm has invested in more than $3 billion of real estate and manages a $9 billion portfolio with a focus toward superior local leadership and a comprehensive national support infrastructure.
MetLife Real Estate Investors, a unit of MetLife, oversees a well-diversified real estate portfolio of more than $60 billion, which is one of the largest in the U.S. and consists of real estate equities, commercial mortgages and agricultural mortgages. MetLife is a global leader in real estate investment and real estate asset management, with a vast network of regional offices that keep in close contact with major real estate markets. For more information, visit www.metlife.com/realestate.
HFF (Holliday Fenoglio Fowler, L.P.) and HFFS (HFF Securities L.P.) are owned by HFF, Inc. (NYSE: HF). HFF operates out of 21 offices nationwide and is a leading provider of commercial real estate and capital markets services to the U.S. commercial real estate industry. HFF together with its affiliate HFFS offer clients a fully integrated national capital markets platform including debt placement, investment sales, equity placement, advisory services, loan sales and commercial loan servicing. For more information please visit www.hfflp.comor follow HFF on Twitter at www.twitter.com/hff.