HOUSTON, TX - JLL announced today the closing of the sale of Skyline Towers, a 939-unit, high-rise apartment community located in Falls Church, Virginia.
JLL marketed the property on behalf of the seller, Equity Residential, and procured the buyer.
Skyline Towers, which is located in an opportunity zone, consists of two 26-story towers that are adjoined by amenities, a central leasing office and a courtyard with a pool. The property is located at 5599 Seminary Road, less than three miles northwest of the Interstate 395 and Route 7 (King Street) interchange within the Interstate 495 Beltway, which offers residents convenient access to Northern Virginia and Washington, D.C. employment centers. In addition, Skyline Towers is surrounded by 2.4 million square feet of premier retail, including a Target and 340,000-square-foot Giant-anchored power center.
Skyline Towers includes a mix of studio through three-bedroom units totaling more than one million rentable square feet and nearly 7,000 square feet of 100% leased ground-floor retail. Unit amenities include stainless steel appliances, eat-in kitchens, spacious closets and oversized balconies. In addition to panoramic 360-degree views of Washington, D.C., the property features a 24-hour fitness center, theater room, conference room, computer lounge, game room and weekday shuttle service to the Pentagon City Metro Station.
The JLL Capital Markets team representing the seller included Walter Coker and Brian Crivella.
JLL Capital Markets is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment advisory, debt placement, equity placement or a recapitalization. The firm has more than 3,700 Capital Markets specialists worldwide with offices in nearly 50 countries.
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Deal secured by Holliday Fenoglio Fowler LP (“HFF”) prior to being acquired by JLL on July 1, 2019. Co-brokerage services provided by Jones Lang LaSalle Americas, Inc.
About JLL: JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. Our vision is to reimagine the world of real estate, creating rewarding opportunities and amazing spaces where people can achieve their ambitions. In doing so, we will build a better tomorrow for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $16.3 billion, operations in over 80 countries and a global workforce of more than 93,000 as of September 30, 2019. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com