Aulder Capital acquired River Pointe, a 170-unit property in Fort Washington, Maryland, for $24.5m. Built in 1968, the property is near Andrews Air Force Base and the National Harbor entertainment, conference and retail area. Currently 90 percent leased, the buyer paid just under $144,120 per unit. The seller, FCP, purchased the property for $15.2m in 2011. Transwestern’s Mid-Atlantic Multifamily Group brokered the deal on behalf of the seller.
“River Pointe is a well-maintained property of high-quality construction and a great fit for our expanding NE Corridor portfolio,” said Matthew Schneider, Aulder’s head of acquisitions. “Aulder will continue to invest in the property with professionally designed upgrades to interiors, common areas and the latest amenities for tenants, seeking both value and lifestyle.”
