A joint venture between Fundrise affiliate RSE Capital and Insight Property Group has acquired a two property, 354-unit portfolio in northern Virginia in a $57.9 million transaction. The two assets in question are the 216 unit Sacramento Square Apartments, located at 5401 Claymont Drive in Alexandria, purchased for $37.75 million. The second community, Lancaster Mill, which is located at 13940 Longwood Manor Court in Woodbridge, has 138 units and traded for $20.15 million. This purchase is part of the joint venture’s plan to invest $200 million annually in Washington, D.C., real estate, primarily by acquiring value-add properties for repositioning.
