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REA
January 31, 2018  

Apartments Available Near Va. Base

Investors are getting a crack at a new luxury apartment complex near a suburban Washington military base.The 282-unit property, in Fort Belvoir, Va., could attract bids of about $85 million, or $301,000/unit. At that price, the buyer’s initial annual yield would be 5.5%. JLL is representing the owner, Chesapeake Realty of Owings Mills, Md.The five-story Belvoir Square, which was completed last April, is still in its initial leasing phase....


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