Clarion Partners sells 300-unit Virginia apartment community

An affiliate of The UIP Companies, Inc. (UIP) and an affiliate of Churchill Living (CRE) have acquired The Millennium, a 300-unit apartment community directly across Metropolitan Park from Amazon’s new HQ2.

The 19-story tower was purchased from Clarion Partners, represented by Bill Roohan of CBRE. KKR Real Estate Finance placed a $135 million first trust mortgage on the property.

Located at 1330 South Fair St. in Arlington, Va., Millennium was the first of several planned residential structures overlooking the two-acre Metropolitan Park. After Amazon selected National Landing for its massive new HQ2, the last two sites slated for residential use became the location for Amazon’s two main headquarters buildings, which are now under construction. Amazon is spending more than $14 million to renovate the park and will bring popular retailers to the first floors of its office buildings.

Millennium also will engage the community with new shops and restaurants. UIP