JBG Smith Sells Walmart-Anchored Fort Totten Apartments For $86.8M ($252,326/unit) to LBX Investments

9/26/2024

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Bisnow

• Subcategory: MF: Market Rate, Mixed-Use: Retail-MF, Retail: Restaurant, Retail: Shopping

• Tag: Sale

• Additional Filters-Subcategory: MF: Midrise, Retail: Coffee-Tea-Specialty Drinks, Retail: Department Store, Retail: Grocery, Retail: Restaurant-QSR, Retail: Salon-Barber-Spa

• Additional Filters-Tags: Sale: Investment, Sale: Single Property

• Company: Walmart (NYSE: WMT)

JBG Smith has sold Fort Totten Square, a 345-unit mixed-use property it developed with Lowe Enterprises in 2015. LBX Investments paid $86.8M for the property at 5661 Third St. NE, according to documents posted Friday in the D.C. Recorder of Deeds. The Atlanta-based investment company, in partnership with Broadwill LLC, secured a $60.9M loan from Greystone Servicing Co. for the acquisition.