JLL Capital Markets announced that it has closed the sale of Bell Fair Oaks, a 246-unit, value-add multihousing community in Fairfax, Virginia.
JLL marketed the property on behalf of the seller and procured the buyer in this transaction.
Built in 1989, Bell Fair Oaks features multiple unit finish levels throughout the property and presents the opportunity for a comprehensive renovation strategy across a majority of the units. Community amenities include a 24-hour Wi-Fi lounge, a clubhouse with a java bar, a 24-hour fitness studio, a bark park, a resort-inspired pool and a picnic area with charcoal grills.
Situated at 12202 Pender Creek Circle, Bell Fair Oaks’ highly amenitized micro-location is surrounded by more than 5.3 million square feet of retail, including Fairfax Towne Center, Fair Oaks Mall and Fair Lakes Center, and is within ten minutes of six grocery stores. The property is easily accessible to I-66 and Route 50, which offers connectivity to the employment hubs throughout Northern Virginia and Washington, D.C. The community is also positioned in the epicenter of Fairfax, providing convenient proximity to 650,000 jobs. Bell Fair Oaks is also within 15 minutes of the Dulles Technology Corridor, Tysons, Rosslyn-Ballston Corridor and National Landing employment markets.
The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Director Robert Jenkins, Senior Director Bret Thompson and Associate Andrew Gemma.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm’s in-depth local market and global investor knowledge delivers the best-in-class solutions for clients—whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
