FREDERICKSBURG, VA - MAA announced that it has completed the acquisition of Station Square at Cosner's Corner, a 260-unit upscale multifamily apartment community located in Fredericksburg, Virginia.
Station Square at Cosner's Corner was developed in 2012 as a NAHB Research Center 'Green Certified' property. Its central location provides easy access to the major employment centers of the Fredericksburg MSA. The property is located adjacent to the Spotsylvania County Regional Medical Center and the 1.5 million square feet retail shopping area of Cosner's Corner. Additionally, the property is a very short drive from the new commuter terminal for the Virginia Railway Express providing direct access to Union Square in Washington, D.C.
The community offers residents a mix of one, two and three bedroom floor plans with 9' ceilings, designer kitchens, granite countertops and an average apartment size of 1,032 square feet. In addition, residents can enjoy an internet cafe area, state-of-the-art fitness center, private movie screening room, resort-style saline pool and dog park.
Commenting on the announcement, Al Campbell, EVP and CFO said, "We are pleased to bolster our presence in the Fredericksburg market area with the addition of this well located, high-end community. We feel its upscale amenities and central location to major employment hubs in combination with our proven operating platform provides an appealing choice for the rental market and will generate a terrific long-term investment for MAA."
MAA is a self-administered, self-managed apartment-only real estate investment trust (REIT), which currently owns or has ownership interest in 49,873 apartment units focused on delivering full-cycle and superior investment performance throughout the Sunbelt region of the U.S.
Source: MAA / #Apartments #Multifamily