Mitsui Fudosan America, Inc. Develops Arlington, Virginia Luxury Residential Building in Joint Venture with Jefferson Apartment Group

Mitsui Fudosan Adds to Washington, D.C. Metro Area Portfolio and Advances U.S. Expansion

NEW YORK--()--Mitsui Fudosan America, Inc. (MFA) http://www.mfamerica.com, the U.S. operations of Japan’s largest real estate company, announced today that it will develop a 22-story luxury high-rise residential apartment building in Arlington, VA, in a joint venture with Jefferson Apartment Group, a full-service real estate firm specializing in multifamily and mixed-use real estate investments through acquisition, development, construction, and property management services.

“The new community will be an exciting development project that will meet the strong demand for housing with close proximity to local jobs, recreation and entertainment in the Rosslyn-Ballston market”

The development site is located at 4000 Fairfax Drive, on the corner of Fairfax Drive and North Quincy Street, in the heart of the Rosslyn-Ballston Corridor of Arlington. The urban infill apartment community, which is approved for up to 330 residential units, will have 264 below-grade parking spaces and 8,260 square feet of ground-floor retail.

“Our strategy has been to form relationships with local partners who share our long-term view and goal of developing best in class assets. We are delighted to be partnering with Jefferson Apartment Group,” said John Westerfield, CEO of MFA.

“The new community will be an exciting development project that will meet the strong demand for housing with close proximity to local jobs, recreation and entertainment in the Rosslyn-Ballston market,” said Jefferson Apartment Group president Jim Butz. “We think residents will be thrilled with the modern design aesthetic of the apartments and the lifestyle and numerous amenities they offer. Mitsui Fudosan America’s goals and values align well with ours.”

MFA has a strong history of investing in the Washington, D.C. area, most notably The Homer Building and 1200 17th Street, NW. MFA is also actively expanding its luxury residential footprint as part of Mitsui Fudosan Group’s global investment initiative.

The completed project will provide market-leading amenities, including a rooftop resort-style swimming pool with sundeck and dramatic views of Arlington and Washington, D.C., a state-of the-art fitness center, a clubroom, a rooftop outdoor lounge with fire pits and multiple grill stations, and 24/7 concierge service.

The residential units will feature top-of-the-market finishes and best-in-class design, including custom-designed cabinetry, wood flooring, and upgraded fixtures. The street-level retail will include a landscaped plaza with 2,000 sf of outdoor seating area. The property will be built and maintained to LEED Gold standards and is expected to break ground in late 2017.

The property is located less than a quarter mile from the Ballston Metro Station (Orange & Silver Lines) and has a Walk Score of 96 (Walker’s Paradise). The site provides a prime corner location on one of the main arteries of the Rosslyn-Ballston Corridor and is one of the most visible intersections of the Ballston neighborhood, which offers multiple premier dining, shopping and entertainment options in the surrounding blocks and within walking distance of the site.

The location also offers easy access to the major office employment nodes of Ballston and Virginia Square, as well as the District of Columbia, Tysons Corner, and Reston submarkets, via the Washington Metro Silver Line and I-66.

In addition to its commercial office and residential development and acquisition activities in the Washington, D.C. area, MFA is also actively developing office and residential projects in New York, San Francisco, Los Angeles and Seattle.

About Mitsui Fudosan America, Inc.

Mitsui Fudosan America, Inc. (MFA) is a real estate investment and development company headquartered in New York City and is the U.S. subsidiary of Mitsui Fudosan Co., Ltd. – Japan’s largest publicly traded real estate company. MFA’s history in the United States dates back to the early 1970’s. Since its inception, MFA has acquired, owned or developed numerous office, multifamily and hospitality properties in major markets throughout the U.S. and has a current development pipeline of over $3.5 billion.

About Jefferson Apartment Group

Jefferson Apartment Group is a full-service real estate firm specializing in multifamily and mixed-use real estate investments through acquisition, development, construction, and property management services. JAG focuses on urban, transit-oriented assets located in high barrier-to-entry markets on the East Coast. The firm is committed to creating and managing communities that are high quality, innovative and environmentally responsible. More information is available at www.jeffersonapartmentgroup.com.

Contacts

MFA Media:
Montieth & Company
Scott Paer, 646-864-3514
spaer@montiethco.com
or
JAG Media:
Christine Masney, 301-461-1978
christinemasney@gmail.com
or
Jefferson Apartment Group
Greg Van Wie, Vice President, Development Partner
703.563.5200

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Mitsui Fudosan America, Inc. Develops Arlington, Virginia Luxury Residential Building in Joint Venture with Jefferson Apartment Group

Mitsui Fudosan America, Inc.