American Real Estate Partners Acquires Office to Apartment Conversion Investment in the Heart of Old Town, Alexandria
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Monday, September 12, 2022
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American Real Estate Partners (AREP), today announced the companys acquisition of 1101 King Street in the heart of Old Town, Alexandria.
Key Points:
- American Real Estate Partners (AREP), today announced the companys acquisition of 1101 King Street in the heart of Old Town, Alexandria.
- This is AREPs fifth investment through its Strategic Opportunity Fund III (Fund III) which is now 60% deployed.
- This latest acquisition is part of AREPs broader strategic investment focus targeting industrial, data center, residential, and office assets across East Coast urban & urbanized suburban markets.
- All office leases were restructured to allow for a deconversion of the office condominium and redevelopment into a mixed-use property.