IS News & Transactions

Berkadia Completes $32 Million Sale of Virginia Multifamily Property


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Berkadia today announced the recent sale of Reston Glen, a 200-unit multifamily property located in Reston, Virginia. Senior Managing Director Scott Melnick and Managing Director David Oakley completed the $32 million sale. The buyer is New York-based Pantzer Properties, and the seller is Crescent Real Estate Equites of Fort Worth, Texas.

"Reston Glen is well positioned in one of the most dynamic submarkets of Washington, D.C.” Melnick said, and “Pantzer Properties will be able to take advantage of economies by adding this property to its already significant roster of Northern Virginia holdings." 

Built in 1974, Reston Glen units feature amenities such as premier appliances, spacious dining rooms, oversized closets, ceiling fans and wall-to-wall carpeting. Community amenities include on-site laundry facilities, barbeque and picnic areas, a playground, a fitness center, jogging and biking trails, a business center with Wi-Fi and a resident lounge. 

Located at 12265 Laurel Glade Court, the property is easily accessible from Virginia Route 267, Fairfax County Parkway and Virginia State Route 7. It is located two miles from Reston Town Center and less than 11 miles from both Dulles Town Center and Tyson’s Corner Mall.