Ken Morris Manages $93 Million D.C. Area Apartment Sale for Investor Group
July 7, 2011
July 07, 2011; Fort Lauderdale, FL – In one of the largest off-market sales on the East Coast during the first half of this year, Morris Southeast Group/CORFAC International President Ken Morris, SIOR announced that the Belle Haven Towers apartment complex in Alexandria, VA has been sold to the Carlyle Group and AION Partners for $93 million.
Morris represented the Washington-based family of investors that sold the apartments, which is comprised of approximately 55 members, and managed negotiations on their behalf. Washington-based Attorney Roger Simon officially represented the group in the sale.
Carlyle/AION have changed the property’s name to Cityside Huntington Metro and announced plans to invest nearly $10 million to upgrade the 570-unit complex, which is comprised of four 10-story buildings and located at 6034 Richmond Highway in Alexandria. The buildings were constructed between 1964 and 1974.
“Belle Haven was an excellent source of investment revenue for many years but as some of the original investors retired or passed away, it was time for the remaining family members to divest their interests in the property and take the capital after years of appreciation,” said Ken Morris.
About Morris Southeast Group/CORFAC International
For more than 30 years, Morris Southeast Group/CORFAC International has been recognized as one of South Florida’s leading providers of commercial real estate services. Located in Plantation FL, Morris Southeast Group is a full-service firm specializing in owner and tenant representation, corporate services and investment sales in the office, industrial and retail sectors throughout Miami-Dade, Broward and Palm Beach Counties. Morris Southeast Group is a member of CORFAC International. For more information, contact Ken Morris, president of Morris Southeast Group/CORFAC International at (954) 474-1776 or visit www.morrissegroup.com.
About CORFAC International
CORFAC International (Corporate Facilities Advisors, Inc.) is one of the largest commercial real estate services organizations in the world and founded in 1989. U.S.-based CORFAC is comprised of privately held entrepreneurial firms with expertise in office, industrial, corporate services, retail real estate and property management. In association with FIABCI – the International Real Estate Federation, BDI in Mexico, five independent firms in Canada, Rios Commercial in Puerto Rico and Panama-based Latin American Corporate Property Services, CORFAC International has 80 offices in the Americas and a market reach to 65 countries worldwide. For more information on CORFAC, contact 954-923-6160, firstname.lastname@example.org or visit www.corfac.com.