Praedium/Milestone JV Pays $125.5M for Apt. Portfolio

The Praedium Group, a New York City-based national real estate investment firm and The Milestone Group, a Dallas-based multifamily real estate investment and management company, formed a joint venture to acquire a 556-unit residential portfolio known in Alexandria, VA, for $ 125.5 million, or about $ 225,719 per unit. Archstone was the seller.

Known as The Alexandria Portfolio, the asset consists of two complexes at 6050 Palladium Court and 6050…
National Commercial Real Estate News From CoStar Group