Insight Property Group and RSE Capital, an affiliate of Fundrise, announced a $9.7 million apartment acquisition Wednesday that looks to be the first of many investments for this new strategic partnership.
Canterbury Square Apartments, at 9186 Richmond Highway in Alexandria, is located across Route 1 from Fort Belvoir’s main gate. With the anticipated growth of Fort Belvoir and what the companies describe as a limited supply of class B apartments in this submarket, the investors say Canterbury Square is positioned to satisfy a growing demand for middle-market housing.
The acquisition launches a new strategic partnership between Insight andRSE Capital, both Washington, D.C.-area firms. The firms said they plan to invest $200 million a year in D.C.-area real estate.
