Akelius Northern
Virginia Portfolio
Ballston Place
Arlington, VA
383 Units | 1999 Year Built
5 Assets | 1,512 Units Across Arlington & Fairfax Counties
PROPERTIES CAN BE SOLD AS A PORTFOLIO, SUB-PORTFOLIOS, OR INDIVIDUALLY
BARTON HOUSE
Arlington, VA
214 UNITS | 1966 YEAR BUILT
DWELL VIENNA METRO
Vienna, VA
251 UNITS | 2008 YEAR BUILT
DOMINION PLAZA
Arlington, VA
318 UNITS | 1956 YEAR BUILT
FAIRWAY APARTMENTS
Reston, VA
346 UNITS | 1969 YEAR BUILT
Opportunity to acquire separately or jointly high-performing assets well below replacement cost in the epicenters of Northern Virginia’s growth corridors – Arlington & Fairfax Counties - with tremendous opportunity to capture rental upside through a targeted in-unit value-add execution
Deal Highlights - Ballston Place
Exceptional Property Performance
Ballston Place has averaged 96.7% occupancy since 2023 and 58.1% retention since the time of acquisition, demonstrating market-leading renter demand. Since the start of 2025, Ballston Place has average 3.41% increases on all new leases and 3.05% increases on all renewals.
Unparalleled Transit & Lifestyle Connectivity
The Property is 4-minute walk (0.2 miles) from the Virginia Square–GMU Metro Station (Orange & Silver Lines), minutes from I-66, and walkable to the abundant lifestyle amenities of Ballston, Courthouse, Virginia Square, and Clarendon.
Embedded in Prestigious Employment Corridor
The Rosslyn-Ballston Corridor is home to approximately 25 million square feet of office space, including Accenture, Boeing, Raytheon, Nestlé and Costar.
Premier Local Demographics
Within a one-mile radius, average household income of $165K+ and 78% of the population holding a bachelor’s degree or higher (Costar).
Value-Add Upside on 89% of Units
Ownership has recently renovated 41 units, achieving $325 average premiums. The remaining 342 units offer complete value-add upside with proven Property-level premiums of $325–$750+ and recent Rosslyn-Ballston corridor deliveries elevating rent levels to $5.00+ / foot.
Below Replacement Cost in a Submarket with Exploding Rents
Ballston Place is being offered well below replacement cost in a submarket where new highrise deliveries’ basis is ~$700k / unit, and target rent levels are $5.00 + / foot.
Deal Highlights - Barton House
Market-Leading Property Performance
Barton House has averaged 97.3% occupancy since the start of 2023 and 74.3% retention since Akelius acquired the asset. Since the start of 2025, new leases have averaged 7.50% increases and renewals have averaged 3.91% increases, demonstrating the exceptional levels of renter demand at the asset.
Exceptional Access to Local Employment
The Rosslyn-Ballston Corridor is home to approximately 25 million square feet of office space, including Accenture, Boeing, Raytheon, Costar and Nestlé as well as just a 10-min drive to Amazon HQ2 and National Landing.
Connectivity throughout the DC Metro
A 10-minute walk (0.6 miles) from both the Clarendon and Courthouse Metro Stations (Orange & Silver Lines) and minutes to I-66, giving residents direct access to the broader Washington, DC metro area.
Premier Local Demographics
Within a one-mile radius, average household income of $164K+ and 78% of the population holding a bachelor’s degree or higher (Costar).
Value-Add Upside on 94% of Units
Ownership has recently renovated 12 units and achieved an average monthly premium of ~$430. New ownership has the ability to capture this upside on the remaining 202 units (94% of total units) to achieve maximum upside.
Additional Upside through Common Area & Bringing Units Online
Barton House is currently approved for 218 units, as 3 units are currently offline and being used as additional storage. Additionally, community amenities offer a ‘blank canvas’ for new ownership to generate rental demand.
Deal Highlights - Dominion Plaza
Exceptional Property Performance
Since 2023, Dominion Plaza has averaged 96.7% occupancy and 61.2% retention, demonstrating the market-leading levels of renter demand at the asset and presenting an opportunity to further push rents.
Minutes from Regional Demand Drivers & Connected Throughout DC Metro
The Property is a 5-minute drive to National Landing, the region’s fastest-growing employment & lifestyle epicenter. The Property also provides seamless access to I-395, Route 1, and the George Washington Parkway, providing convenient connectivity to Northern Virginia and Downtown Washington, DC.
Strong Employment
The Property is just nine minutes from Amazon’s $2 billion+ HQ2 campus, which currently houses approximately 8,000 employees (11,000 at full capacity), and just 10 minutes from the $1 billion+ Virginia Tech Innovation Campus, which opened in 2025. Additionally, Government Tech & Defense demand is surging with contracting awards up 38.5% over the last three years.
Premier Local Demographics
Within a one-mile radius of the Property, the average household income is $150K+ and 69% of the population holding a bachelor’s degree or higher (Costar).
Value-Add Upside on 100% of Units
100% of units offer value-add upside, providing a new owner the opportunity to renovate and reposition the asset to the competitive set, which is currently achieving per unit rents up to $1,000 / month higher than Dominion Plaza.
Mission-Driven Financing Eligibility
With 100% of units at 80% AMI and 52% at 60% AMI, Dominion Plaza is mission-eligible offering compressed spreads and 35-year AM.
Deal Highlights - Dwell Vienna Metro
Exceptional Property Performance
Dwell Vienna Metro has averaged 96.4% occupancy since the start of 2023, 63.8% retention since acquisition, and renewals have averaged increases of 3.09% since the start of 2025, demonstrating the high levels of renter demand and the opportunity to achieve outsized rent growth.
Elite Transit Connectivity
The Property is situated just steps from the Vienna/Fairfax–GMU Metrorail Station and offers immediate access to Route 29, I-66, and I-495 seamlessly connecting residents to all of Northern Virginia’s major employers as well as Downtown DC.
Strong Employment
Just 5 metro stops from Tysons Corner—one of the nation’s largest and most dynamic office markets with over 30 million square feet of office space—serves as a major employment anchor, alongside 11 Fortune 500 companies within a 15-minute drive. Additionally, the Fairfax County’s exploding Defense & Tech presence provides additional employment demand.
Optimal Local Demographics
Within a one-mile radius, average household income of $174K+ and 69% of the population holding a bachelor’s degree or higher (Costar).
Value-Add Upside on 100% of Units
100% of units offer value-add upside, providing a new owner the opportunity to renovate and reposition the asset to the competitive set, which is currently achieving rents up to $1,000 / unit higher than Dwell Vienna Metro.
Additional Upside through Common Area Repositioning
Dwell Vienna Metro has significant common area space and provides an opportunity to capture additional rental upside through a common area repositioning.
Deal Highlights - Fairway Apartments
Exceptional Property Performance
Since 2023, Fairway Apartments has averaged 97.6% occupancy. More recently, the Property has also achieved 3.09% increases on renewals and 4.63% average increases on new leases since the start of 2025, proving the exceptional levels of renter demand and the opportunity to achieve outsized rent growth.
Embedded in the Exploding Reston – Herndon Corridor
The Property is situated just minutes from Reston Town Center – a premier mixed-use destination featuring over 3 million SF of office, retail, and entertainment space. With robust forward-looking employment & population trends, the R-H Corridor growth will continue indefinitely as the Dulles Toll Road’s employment corridor continues to attract significant Technology & Defense employment.
Strong Employment
Located just minutes from major corporate headquarters, including Fannie Mae (636K SF), Leidos (265K SF), and Volkswagen (197K SF), as well as a diverse mix of additional leading employers in the surrounding area.
Optimal Local Demographics
Within a one-mile radius, average household income of $154K+ and 73% of the population holding a bachelor’s degree or higher (Costar).
Value-Add Upside on 98% of Units
98% of units offer value-add upside, providing a new owner the opportunity to renovate and reposition the asset to a competitive set.
Mission-Driven Financing Eligibility
Fairway Apartments currently has 100% of units at 80% of AMI and 51% of units at 60% of AMI, presenting an opportunity for mission-driven financing offering compressed spreads and 35-year AM.
Location
1. Ballston Place
96.7%
Occupancy
(Since 2023)
58.13%
Retention
(Since 2018)
2. Barton House
97.3%
Occupancy
(Since 2023)
74.29%
Retention
(Since 2022)
3. Dominion Plaza
96.7%
Occupancy
(Since 2023)
61.18%
Retention
(Since 2022)
4. Dwell Vienna Metro
96.4%
Occupancy
(Since 2023)
63.78%
Retention
(Since 2022)
5. Fairway Apartments
97.6%
Occupancy
(Since 2023)
66.39%
Retention
(Since 2021)
Contact Us
DC METRO
4445 Willard Ave., Suite 1200
Chevy Chase, MD 20815
Investment Advisors
BRIAN CRIVELLA
Senior Managing Director
301.580.6685
[email protected]
YALDA GHAMARIAN
Senior Director
240.462.2332
[email protected]
BILL GRIBBIN
Senior Director
301.580.6486
[email protected]
JACK CANEPA
Associate Director
301.941.4629
[email protected]
Mortgage Banking
PATRICK MCGLOHN
Senior Managing Director
301.941.4610
[email protected]
BRIAN GOULD
Managing Director
301.941.4616
[email protected]
Akelius Northern
Virginia Portfolio
5 Assets | 1,512 Units Across Arlington & Fairfax Counties
Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
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