Investment firms and religious organization buy buildings from McNair
Investment firms in New York and Canada have spent hundreds of millions of dollars this year to acquire office and residential buildings near Dulles International Airport in Fairfax County.
IvanhoÃ© Cambridge, a Montreal-based real estate company, acquired Ashton at Dulles Corner, a luxury apartment complex along Sunrise Valley Drive in McNair, on November 12 for more than $ 149 million. A spokesperson, VÃ©ronique DÃ©silets, suggested via email that the company had increased its existing stake in the property, but declined to say what its long-term plans for the property are.
It is still managed by global real estate developer and manager Greystar, headquartered in Charleston, South Carolina.
Manhattan-based Innovatus Capital Partners acquired three office buildings at 13530 and 13560 Dulles Technology Drive on May 28 for $ 113.5 million. According to its website, the investment firm seeks to “identify and capitalize on difficulties, disruptions and market growth.”
And the Islamic Foundation of North America, which holds prayers and religion classes at its current location at 13515 Dulles Technology Drive, Suite 1, has purchased a nearby building that currently houses Little Oaks Montessori Academy and Oak Hill. Christian School. The $ 6.8 million purchase took place on August 30.
âAn expansion plan is underway on the main campus to meet the needs of the rapidly growing community,â the NAIF says on its website.
Officials from Innovatus Capital Partners and NAIF declined to respond to messages seeking comment on their plans.
The properties are close to the Innovation Center station, which has yet to open, for the continued expansion of the Metrorail Silver Line, which is still experiencing delays. It also comes as the pandemic has left businesses questioning whether they are using office spaces as efficiently as possible.
The developers are already there, building apartments, townhouses and condos, a senior citizen facility and more, along with plans to further transform the offices and residential park.
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