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Jamestown acquires Washington, DC, apartment property for $120M

Jamestown LP acquired The Ellington apartment property on U Street in Washington, D.C., for $120 million, the Washington Business Journal reported.

The 190-unit property was acquired from an affiliate of TH Real Estate, which had paid roughly $100 million for the asset in 2011.

The property also has a number of ground-floor retailers, including restaurant TaKorean.

Jamestown has a Washington-area portfolio that mostly includes high-end office space, according to the report.