JLL Capital Markets closed the sale of the 246-unit Bell Fair Oaks located in Fairfax, Virginia
News release
25 July 2022
Sale of multi-housing community in Northern Virginia closes
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WASHINGTON, D.C., July 25, 2022 – JLL Capital Markets announced today that it has closed the sale of Bell Fair Oaks, a 246-unit, value-add multi-housing community in Fairfax, Virginia.
JLL marketed the property on behalf of the seller and procured the buyer in this transaction.
Built in 1989, Bell Fair Oaks features multiple unit finish levels throughout the property and presents the opportunity for a comprehensive renovation strategy across a majority of the units. Community amenities include a 24-hour Wi-Fi lounge, a clubhouse with a java bar, a 24-hour fitness studio, a bark park, a resort-inspired pool and a picnic area with charcoal grills.
Situated at 12202 Pender Creek Circle, Bell Fair Oaks’ highly amenitized micro-location is surrounded by more than 5.3 million square feet of retail, including Fairfax Towne Center, Fair Oaks Mall and Fair Lakes Center, and is within ten minutes of six grocery stores. The property is easily accessible to I-66 and Route 50, which offers connectivity to the employment hubs throughout Northern Virginia and Washington, D.C. The community is also positioned in the epicenter of Fairfax, providing convenient proximity to 650,000 jobs. Bell Fair Oaks is also within 15 minutes of the Dulles Technology Corridor, Tysons, Rosslyn-Ballston Corridor and National Landing employment markets.
The JLL Capital Markets Investment Advisory team representing the seller was led by Senior Director Robert Jenkins, Senior Director Bret Thompson and Associate Andrew Gemma.
JLL’s Capital Markets group is a full-service global provider of capital solutions for real estate investors and occupiers. The firm's in-depth local market and global investor knowledge delivers the best-in-class solutions for clients — whether investment sales and advisory, debt advisory, equity advisory or a recapitalization. The firm has more than 3,000 Capital Markets specialists worldwide with offices in nearly 50 countries.
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About JLL
JLL (NYSE: JLL) is a leading professional services firm that specializes in real estate and investment management. JLL shapes the future of real estate for a better world by using the most advanced technology to create rewarding opportunities, amazing spaces and sustainable real estate solutions for our clients, our people and our communities. JLL is a Fortune 500 company with annual revenue of $19.4 billion, operations in over 80 countries and a global workforce of more than 100,000 as of March 31, 2022. JLL is the brand name, and a registered trademark, of Jones Lang LaSalle Incorporated. For further information, visit jll.com.