Trammell Crow Residential Sells Alexan Earl Apartments in Arlington
By Keith Loria July 29, 2021 4:53 pm
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Trammell Crow Residential has sold Alexan Earl, a 333-unit multifamily community in Arlington, Va., to a private investor, Commercial Observer has learned.
JLL (JLL) represented the seller in the deal and also secured a five-year, floating-rate loan with Mesa West Capital for the new owner.
The price was not disclosed. Trammell Crow Residential acquired the property in 2018 for $20.3 million, according to public records.
“The sale of Alexan Earl represented a unique opportunity for our buyer to get to an asset located in the coveted Rosslyn Ballston Corridor of Arlington,” Walter Coker, a senior managing director of JLL, said in a prepared statement.
Located at 1122 North Hudson Street, the property is close to the Clarendon Metro Station and is surrounded by 28 million square feet of office and 3.3 million square feet of retail within a two-mile radius, according to JLL’s statement.
Alexan Earl offers studio, one- and two-bedroom units. Over two buildings, they average 827 square feet, with 3,396 square feet of retail. Amenities featured include a heated rooftop pool with an indoor/outdoor bar, two fitness centers, and a coworking space with private offices and collaboration booths.
Joining Coker on the deal were JLL Managing Director Brian Crivella and directors Robert Jenkins and Bill Gribbin. The firm’s debt placement team representing the borrower was led by senior directors Michael Cosby and Jimmy Conley and senior managing directors Jamie Leachman and Andy Scott.
Update: This story originally misattributed source material. This has been corrected. We apologize for the error.
Keith Loria can be reached at kloria@commercialobserver.com.
