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AvalonBay pays $83M for Washington, DC, metro area property

AvalonBay Communities Inc. paid $83 million for the Alexan Concorde multifamily property in Linthicum Heights in Anne Arundel County, Md., in the Washington, D.C., metropolitan area, REBusinessOnline reported.

The 811 Concorde Circle property was sold by a joint venture between Trammell Crow Residential and an affiliate of Western & Southern Financial Group.

The 310-unit luxury property, comprising five buildings, is adjacent to Baltimore-Washington International Airport. Amenities include a resort-style pool and a clubhouse, among other things, according to the Oct. 10 report.