Equity Residential closed its purchase of Metropolitan at Pentagon Row, a 326-unit apartment complex in Arlington, VA, from joint venture partners Cornerstone Real Estate Advisers and Kettler for $100 million, or approximately $306,748 per unit. The acquisition was made free and clear of existing financing.

The Metropolitan is a 355,791-square-foot, 15-story high-rise at 1401 S. Joyce St. in the Pentagon City/Crystal City submarket of northern Virginia. The five-year-old property is 95 percent leased and includes studio, one- and two-bedroom units averaging 870 square feet. It is adjacent to Simon Group's 1 million-square-foot Fashion Center at Pentagon City complex and Federal Realty Investment Trust's 296,000-square-foot Pentagon Row retail center.

HFF represented the sellers. The buyer used in-house representation.

Please see CoStar COMPS #1814870 for more information.