Executive Summary
Berkadia is pleased to present the sale of Latitude, a 265-unit LEED Gold Certified high-rise community in the center of the Rosslyn-Ballston Corridor in Arlington, VA. Latitude (the “Property”), is located directly adjacent to the Metro Orange Line’s Virginia Square-GMU Station connecting residents throughout the DC Metro area and providing convenient access to its most prominent demand drivers, Amazon HQ2, Virginia Tech Innovation Campus at Potomac Yard, and downtown Washington, D.C. The Property also neighbors the impending $250M expansion of George Mason University’s Arlington Campus, The Fuse, a 360,000 SF facility that will consist of academic space, private and public sector partner incubation space, and retail.
The Rosslyn-Ballston corridor has seen an explosion of growth in real estate fundamentals over the past decade and a rapid ascension to the most relevant multifaceted downtown area in the DC Metro. Latitude’s position along the Rosslyn-Ballston Corridor places residents at the nexus of the most highly-coveted live, work, play destination catalyzed by an unmatched presence of public and private sector employment with the recent migration of major corporate HQ’s of Nestle, Raytheon, Boeing, Accenture, and Costar all relocated to the Rosslyn-Ballston Corridor.
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.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
4445 Willard Ave | Suite 1200 | Chevy Chase, MD 20815
BRIAN CRIVELLA
Senior Managing Director
301.580.6685
brian.crivella@berkadia.com
YALDA GHAMARIAN
Senior Director
240.462.2332
yalda.ghamarian@berkadia.com
BILL GRIBBIN
Senior Director
301.580.6486
bill.gribbin@berkadia.com
INVESTMENT SALES
DC METRO
4445 Willard Ave.
Suite 1200
Chevy Chase, MD 20815
CONTACT US
Investment Highlights
Metro-Anchored Location: Directly across the street from Metro Orange Line Virginia Square-GMU Station
Affluent Resident Population: Superior local renter demographics with an average household income of $150,000
819
average
unit size
265
residential units
2017
year built
224
parking
spaces
orange line
directly adjacent to metro
3,204 SF
leased to
Stainless Steel
Appliances
Quartz
Countertops
Spacious Light-Filled
Floorplans
Wood-Style Plank
Flooring Throughout
9' Ceiling Heights
Washer/Dryer in Every Unit
Expansive Rooftop Lounge
Wrap-Around Views of Northern Virginia
Grilling Stations
and Dining Area
Bar with Lounge
Seating and TV's
Large Fire Pit
with Seating
Green Roof Installations
outdoor community
amenities
Amenities
The Opportunity
The Asset
Amenities
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The Asset
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3601 Fairfax Drive, Arlington, VA 22201
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.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
4445 Willard Ave | Suite 1200 | Chevy Chase, MD 20815
BRIAN CRIVELLA
Senior Managing Director
301.580.6685
brian.crivella@berkadia.com
YALDA GHAMARIAN
Senior Director
240.462.2332
yalda.ghamarian@berkadia.com
BILL GRIBBIN
Senior Director
301.580.6486
bill.gribbin@berkadia.com
INVESTMENT SALES
DC METRO
4445 Willard Ave.
Suite 1200
Chevy Chase, MD 20815
CONTACT US
Rooftop Clubroom and Entertaining Kitchen
Resident Lounge with TV's
and Pool Table
Private Conference
Room Space
Fully-Equipped
Fitness Center
Pet-Friendly Community with Large Dog Spa
indoor community
amenities
Apartment
Amenities
Discount to Replacement Cost: Below replacement cost opportunity in the most highly sought-after neighborhood in Northern Virginia
Recent Property Performance: Strong recent leasing trends with 5.6% increases on recent 10 new leases and 4.1% increases on recent 10 renewals
6,006 total retail SF
Superior Demand Drivers: Central to the RB Corridor’s 25M+ SF of office space including the Headquarters of Accenture, Boeing, Raytheon, and Nestle, and the incoming Costar HQ announced in 2024
Upcoming Supply Shortfalls: Located in supply declining submarket as deliveries along the RB Corridor over the next 3 years are expected to drop 50% from the delivery volume of the last 5 years
Surrounded by Retail and Lifestyle Amenities: Situated within 1-mile of over 2 million square feet of retail consisting of several hundred shops, restaurants, and bars such as Crate & Barrel, Williams Sonoma, Tatte, and more
On Site Retail: 6,006 total square feet of retail at the Property leased to Medium Rare (3,204 SF) and George Mason University (2,802 SF)