Southern Management Companies Acquires 240-Unit Shelby Apartments in Alexandria
Southern Management Companies announced its acquisition of The Shelby Apartments, a 240-unit mid-rise community in Alexandria, Virginia. The transaction adds to Southern Management’s portfolio of properties across Maryland and Virginia.
The Shelby features primarily 1-bedroom and 2-bedroom apartment homes with spacious floor plans and updated finishes. Community amenities include a fitness center, pet-friendly grounds, pet care facilities, a clubhouse, swimming pool, and outdoor grilling areas.
“The Shelby is a strong addition to our portfolio and reflects our continued confidence in Northern Virginia,” said Suzanne Hillman, CEO of Southern Management Companies. “Its location, quality and sense of community align well with our long-term investment strategy and our commitment to creating exceptional places for people to live.”
According to the announcement, Southern Management operates apartment, residential, and commercial properties throughout Maryland and Virginia. The company stated it plans to bring long-term stability and investment to The Shelby and its residents.
Gabrielle Duvall, President of Southern Management Companies, added, “We are excited to welcome The Shelby’s residents and team members to Southern Management. Our focus will be building on the community’s existing strengths while providing the attentive service and long-term stability that residents expect from Southern Management.”
The Shelby opened in 2014 and is located in the Penn Daw area of Alexandria, near the intersection of Richmond Highway and North Kings Highway in Fairfax County. The property is positioned minutes from Interstate 495 and the Huntington Metro Station on the Yellow Line. The location provides access to Old Town Alexandria and its shopping, dining, and entertainment options.
The acquisition demonstrates Southern Management’s continued investment activity in the Northern Virginia multifamily market, according to the company’s announcement.