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Transactions - DECEMBER 5, 2022

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The Milestone Group buys 870-unit multifamily portfolio in Northern Virginia

by Released

The Milestone Group has acquired a three-property, value-add, multifamily portfolio totaling 870 units in Fairfax County, Va.

The purchase price was not disclosed.

The acquisition included The Ellipse at Fairfax Corner, a 1989-vintage, 404-unit, garden-style community; Windsor at Fair Lakes, a 1988-vintage, 250-unit, garden-style community; and The Townes at Herndon Center, a 2002-vintage, 216-unit, townhome community.

“The properties in this portfolio are well-located and of institutional quality, providing Milestone with a strong mark-to-market opportunity to improve performance through strategic capital enhancements and a sophisticated operating platform,” said Jason Wise, Milestone vice president for acquisitions. “These communities reflect Milestone’s continued interest in acquiring assets in resilient, high barrier-to-entry markets, close to major employment centers, great schools, and abundant amenities. We look forward to executing our business

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