In May 2022, the Aubrey, a 331-unit luxury apartment tower, part of The Highlands development in Rosslyn was sold to an Atlanta-based real-estate firm. The Highlands is a mixed-use development which, in addition to the Aubrey, includes Evo, a multi-family tower with 455 units, the Pierce, a condominium tower with 104 units as well as 27,800 square feet of retail space, a neighborhood park, and a new community fire station.

In June, Hagerstown Crossroads at l-81 (“HC 81”) was sold. The land in Hagerstown, Maryland was acquired in January, 2021 for the development of an 825,620 square foot warehouse.  The project was on schedule to be substantially complete in July, 2022.  Fund ll entered into a binding forward sale agreement in February, 2022, to sell HC 81 upon completion. The purchaser exercised its right to close prior to completion and did so in June, 2022. HC 81 is an industrial development located one mile from the intersection of I-81 and I-70 in Hagerstown, Maryland.  The I-81 corridor provides freight trucking reach to over 50% of the U.S. population within an overnight drive.