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Cornerstone, Kettler Sell Pentagon City Multifamily for $125M

Invesco Buys 325-Unit Complex in Washington, DC Suburbs for Institutional Client
By Laurie Forbes
August 26, 2010 | 6:59 P.M.

Cornerstone Real Estate Advisers LLC and Kettler sold the Metropolitan at Pentagon City, a 325-unit multifamily complex at 901 S. 15th St. in Arlington, VA, to Invesco for $125 million. Invesco paid $111.7 million, or about $343,700 per unit, for the building and $14 million to buy out the ground lease.

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