Sentinel Real Estate Pays $317M for Two DMV Multifamily Complexes
The purchases continue a string of nine-figure housing deals in the DMV
By Nick Trombola January 16, 2025 4:47 pm
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The trend of nine-figure multifamily deals in the Washington, D.C., suburbs has continued its stride, with a New York-based real estate investment firm paying over $300 million for a pair of buildings in Northern Virginia and Maryland.
New York-based Sentinel Real Estate acquired both the 411-unit Brentford at The Mile apartment complex at 7970 Maitland Street in Tysons, Va. — for $167.3 million according to the Business Journals — and the 386-unit Aventon Crown complex at 800 Rockwell Avenue in Gaithersburg, Md., for $150 million, per property records.
Development, investment and management firm Kettler, with partner PS Business Parks, broke ground on the Brentford at The Mile in 2020 as part of the second phase of development for The Mile, a 45-acre mixed-use project in Tysons. An affiliate of Blackstone (BX)‘s Link Logistics acquired PS Business Parks in 2022.
The 2022-built Aventon Crown, which Sentinel has renamed Rockwell at Crown, was sold by an affiliate of Aventon Companies, property records show.
“Both properties provided an excellent opportunity for Sentinel to obtain immediate scale and penetration into the high barrier to entry D.C. suburbs,” George Tietjen, managing director at Sentinel, said in a statement.
Representatives for Link Logistics, Kettler and Aventon did not immediately respond to requests for comment.
Sentinel’s newest additions to its portfolio are far from the only multifamily investment sales to close in the DMV for well over $100 million lately.
At the end of 2024, for example, Mesirow, Pembroke and Griffis Residential paid $175.1 million, $158.3 million and $115.3 million, respectively, for multifamily properties in Tysons and Arlington, Va., and in Bethesda, Md. Yet those sales don’t even crack the top two in the region last year; Bridge Investment Group acquired the 806-unit Dulles Green housing complex in Reston, Va., for $250 million in October, and Abacus Capital Group that same month acquired the 631-unit Residences at Springfield Station in Springfield, Va., for $207 million.
Nick Trombola can be reached at ntrombola@commercialobserver.com.
