Zurich Alternative Sells Siena Park Apartments in Arlington for $80M

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Zurich Alternative Asset Management has sold Siena Park, a 188-unit multifamily community in Arlington, Va., for $80.1 million.

The property includes 33,602 square feet of retail and 17,373 square feet of office space.

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Located at 2301 Columbia Pike, Siena Park is just 15 minutes from Washington, D.C., and is close to numerous dining and entertainment options at Village at Shirlington, and within the nearby Ballston Quarter, Ballston Exchange and Pentagon City neighborhoods. 

The property offers studio, one- and two-bedroom units averaging 844 square feet. Amenities include a year-round rooftop deck, pool, fitness studio and business center.

JLL represented the seller in the transaction; the buyer was not disclosed. The JLL team representing the seller included senior managing directors Walter Coker and Brian Crivella and directors Robert Jenkins and Bill Gribbin.

According to JLL, the seller was looking to take advantage of the tremendous amount of capital in the market. 

Lincoln Property was the management company for the seller.

Keith Loria can be reached at kloria@commercialobserver.com.