Colorado’s Aimco drops $160 million on D.C.-area apartment complex

Colorado's Apartment Investment and Management Co. (Aimco) has purchased the Bent Tree apartment community in Fairfax County, Virginia, outside Washington, for $160 million.

The buy adds 748 units to the real estate investment trust's already robust holdings in greater Washington.

The acquisition price works out to roughly $214,000 a unit.

Denver-based Aimco (NYSE: AIV) characterized the garden-style complex, 13639 Bent Tree Circle in Centreville, as Class B with average rentals of $1,500 per…

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