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Topaz Plaza Apartments Sold For $309 Million
Topaz Plaza apartments in Arlington sold Dec. 7 for $30.9 million.
The 281-unit community is at 780 University Club Blvd. The price per unit was $110,000.
Patriot Plaza Apartments 2021 LLC of Jacksonville acquired the property from Core Topaz Plaza LLC of New York.
After the sale, the new owners changed the communitys name to Patriot Plaza Apartments.
Built in 1975, records show a taxable value of $18.6 million.
Patriot Plaza has one-, two- and three-bedroom units from 622 to 1,100 square feet. Rents are $855 to $1,085 a month, according to apartments.com.
Amenities include a pool, fitness center, laundry facilities, dog park, car care area and a grill and picnic area.
Patriot Plaza Apartments 2021 LLC received Public Finance Authority Multifamily Housing Revenue Bond mortgages of $52.2 million and $1.1 million on Dec. 7. The mortgages mature no later than Dec. 1, 2036.
In December 2019, Core Topaz Plaza purchased the property from The Plaza 281 LLC of Orange County, California, for $19.6 million.
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