29th Street Capital, a privately owned real estate investment firm, has purchased The Shelby, a luxury apartment community in Alexandria, Virginia for $82 million. This is the first investment made by the firm in the Washington D.C. metro area.
The Shelby is a 240 unit property offering high quality interiors, community spaces and amenities. The property is a short walk from Huntington Metrorail station which provides service to Old Town Alexandria and into Washington D.C.
This is the 23rd multifamily property 29th Street has acquired in 2021, containing a total of 5,000 residential units.
“This investment provides a unique opportunity for us to own a high-quality metro-served asset in a growing area of Alexandria,” said Brian Berry, senior VP of acquisitions for 29SC.