A 748-unit multifamily community in Centreville, VA. has been sold to Apartment Investment and Management Co. (Aimco) in a $160m deal. The property, Bent Tree, is located on the western outskirts of Washington, D.C. The asset is made of 335 one-bedroom, 353 two-bedroom and 60 three-bedroom apartments, with an average rent price of $1,500. Trading for just over $213,900 per unit, the buyer plans to increase the asset’s potential through interior capital upgrades. Aimco owns two other multifamily properties in the area totaling 1,000 units.
