Combined Properties Acquires Key Towers, A High-Rise Apartment Complex in Alexandria, VA

Washington, DC (April 2, 2019) – Combined Properties, Incorporated is pleased to announce the acquisition of Key Towers, a 140-unit high-rise apartment community located in Alexandria, VA.  This marks Combined’s third apartment acquisition in the past 10 months following the purchase of Reston Glade in Reston, VA and Columbia Glade in Columbia, MD.

Key Towers is a 140-unit high-rise apartment community located in affluent Alexandria, VA, one of the most desirable submarkets in the Washington, DC area. Residents enjoy a wide array of amenities including: spacious smoke-free apartments, fitness center, swimming pool, WIFI in common areas, BBQ area, pet-friendly and more.  The location of the complex is particularly attractive as it provides easy access to I-395 and minutes from Washington, DC and downtown Alexandria.

Combined Properties has entered the residential arena with a $1 billion mixed-use development pipeline.  Pendry West Hollywood (West Hollywood, CA), Scout on the Circle (Fairfax, VA) and South Alex (Alexandria, VA) are currently under construction.  Key Towers is an acquisition that enhances and diversifies the residential business lines, as it is an operating complex that has the potential to be upgraded in the future.

Key Towers will become a community known for its location and amenities, while still providing value for its residents,” said Ronald Haft, Chairman of Combined Properties.  Andrew McIntyre, EVP of East Coast Development, who represented Combined in the transaction stated, “We are extremely pleased to add Key Towers to our portfolio and are seeking to acquire more residential complexes to broaden Combined’s presence in our core markets.”

Combined Properties Background

Combined Properties, Incorporated is a preeminent private real estate company specializing in retail, multifamily and mixed-use with a $2 billion portfolio of existing and under-construction assets comprised of 40 properties in Washington DC and Southern California metropolitan areas, totaling 6 million square feet and an additional $1.25 billion development pipeline.  Since its founding by Chairman Ronald S. Haft, Combined Properties has always strived to develop the true potential of a commercial property and passionately embraces developing real estate to meet the needs of a rapidly changing landscape by combining creativity, lifestyle, community, and technology. Combined applies its creative and entrepreneurial expertise in development, finance, leasing and asset management to create innovative retail, residential, hospitality, and mixed-use communities that instill pride and joy in the people that live, shop, and stay there.

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