Specialized Multifamily Partners, an investment vehicle sponsored by Acento Real Estate Partners and BTG Pactual, announces the acquisition of Crystal Woods, a 344 unit workforce multifamily community built in 1966 and located in Alexandria, Virginia.
The property location inside the beltway is central to major employment centers in Washington, DC, and Northern Virginia and is within a 10-minute drive to downtown Alexandria and other points accessible via major nearby commuter arteries of I-495, I-395, and I-95, a 344-unit apartment community in Alexandria Virginia.
Crystal Woods is adjacent to more than $4B in economic development projects expected to transform the immediate submarket. These projects, including Amazon’s HQ 2, Inova Hospital System’s Landmark Mall redevelopment, and Virginia Tech University’s Innovation Campus, will bring more than 12 MMSF of commercial space to the area and create 37 000 new jobs over the next decade.
Crystal Woods offers outstanding amenities for its tenant base, including:
· Modern eat-in kitchens
· Laundry centers in every building
· Swimming pool
· Modern clubhouse
· State-of-the-art fitness
· Business center.
Crystal Woods of Alexandria is an apartment located in Fairfax County, with access to the Fairfax Co Public Schools attendance zone.
Crystal Woods marked the eleventh acquisition for Specialized Multifamily Partners., bringing the SMP portfolio to approximately 2,743 units.