APP WIRE—The home search app HomeSnap that can determine listing information just by taking a photo of a house has released a set of upgrades. Now they have an iPad version, plus an aerial function called Explore, as well as a few 'agent engagement' upgrades (e.g. you can send the info directly to your agent to say your interested). [CurbedInbox]
RESTON—JBG companies announced yesterday that they have acquired the Archstone property Charter Oak—a 262-unit building within a mile of the of the future Silver Line Wiehle Avenue stop. See the full press release after the jump. [CurbedInbox]
JBG acquires Charter Oak apartment community in Reston
Submarket strength, arrival of Metro create 'terrific opportunity'
Chevy Chase, Md., (December 18, 2012)—The JBG Companies has acquired Archstone Charter Oak, a 262-unit apartment community located at 11637 Charter Oak Court in the heart of Reston, Virginia's first planned community.
Charter Oak is a neighbor to Hidden Creek Country Club, close to the Dulles Toll Road and Reston Parkway, and is within a mile of the of the future Wiehle Avenue stop on Metro's new Silver Line, which is expected to open in 2013. It is also within a half-mile of Reston Town Center, a prime destination for shopping, dining and entertainment. The immediate area around Charter Oak supports almost 20 million square feet of office space.
"Charter Oak is a terrific opportunity," said Tiffany Butcher, a JBG senior vice president. "Reston is one of the strongest submarkets in the Washington Metropolitan Area and was recently ranked 7th on Money magazine's annual list of the top 100 places to live. Charter Oak has an excellent location in the community and will be a valuable asset to the JBG residential portfolio."
Built in 1970, Charter Oak is a brick, garden-style apartment community that sits on 12.3 acres with picnic areas and playgrounds, and offers spacious floor plans with floor-to-ceiling windows, in-unit washers and dryers and walk-in closets. Residents are eligible for $15 annual membership in the Reston Association, which offers 15 outdoor pools, 52 tennis courts, four lakes and 55 miles of hiking and biking trails.
Major employers in the area include Boeing, Booz Allen Hamilton, Lockheed Martin and Accenture. In total, the Dulles Corridor supports 32.3 million square feet of office space—all within 10 minutes of Charter Oak.
The deal was brokered by Drew White, a principal of Apartment Realty Advisors.
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About The JBG Companies
Headquartered in Chevy Chase, Maryland, The JBG Companies is a private real estate investment firm that develops, owns and manages office, residential, hotel and retail properties. The company has more than $10 billion in assets under management and development in the Washington, DC area. Since 1960, JBG has been active in the areas where it invests, striving to positively impact local communities. More information can be found by visiting the company's website: www.JBG.com, or by calling 240.333.3600.