Northpoint Realty Partners has acquired 6.3 acres of land in Alexandria for $5.6 million. The Bethesda, Md.-based real-estate development firm said it plans to invest another $2 million in the land at Huntington Crossing – adjacent to the Huntington Avenue Metro -- so it can develop the tract into a mix of townhomes and a five-story condominium.
“Huntington Crossing provided Northpoint with the opportunity to purchase an attractive land investment with excellent demographics adjacent to the Huntington Avenue Metro with outstanding access to I-495, Hoffman Town Center with the new Wegmans and Old Town Alexandria,” Tim Riordan, acquisitions and investments partner, Northpoint Realty Partners, said in a statement.
Huntington Crossing represents Northpoint’s second transaction with the land’s seller, the Hoffman Co. Northpoint said the project should be completed by the 4th quarter of 2019.
