Toll Brothers picks up multifamily property in Virginia

Toll Brothers recently purchased a multifamily community in Leesburg, Va., for $65 million, according to an announcement from Transwestern Commercial Services, which brokered the sale.

 

The property, known as Westchester at Stratford Farm, is located at 500 Sunset View Terrace in Leesburg.

 

Westchester at Stratford Farm is a 300-unit apartment community consisting of 106 one-bedroom units, 44 one-bedroom with loft units, 96 two-bedroom units, 24 two-bedroom with loft units and 30 three bedroom units.

 

The community offers residents a clubhouse with a billiards table and plasma screen TV, a party room, business center, masseuse center, swimming pool and fitness center with cardio theatre. 

 

Transwestern IMG Co-directors, Al Cissel and Scott Melnick, represented the seller, Ameriton/Archstone-Smith, in the transaction.

 

Ameriton Properties Inc. is a wholly owned private real estate investment company that focuses on the acquisition, development and sale of apartment communities.

 

Transwestern Commercial Services specializes in agency leasing, property and facility management, tenant advisory, corporate advisory, investment and finance, healthcare advisory, development and research for a broad range of property types including office, industrial, retail and multi-family.

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