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Nonprofit Housing Developer Buys Northern Virginia Apartment Complex With Plan to Keep It Affordable

Alexandria Housing Development Corp. Receives Special Loan to Buy Building for $106 Million
Greystar paid $75 million back in 2014 to acquire the 326-unit Avana in Alexandria. (CoStar)
Greystar paid $75 million back in 2014 to acquire the 326-unit Avana in Alexandria. (CoStar)
By Bryce Meyers
CoStar News
January 30, 2020 | 9:02 P.M.

A housing complex that had been marketed to opportunistic investors as having considerable upside with the nearby arrival of Amazon's second headquarters has been acquired by a local nonprofit organization that plans to keep a majority of the units affordable for middle-income earners.

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