Item 2. Properties
ITEM 2: PROPERTIES
The schedule on the following pages lists our real estate investment portfolio as of December 31, 2022, which consisted of 27 residential communities, one office building and land held for development. Cost information is included in Schedule III to our financial statements included in this Annual Report on Form 10-K.
Schedule of Properties
Properties Location Year Acquired Year Constructed/Renovated # of Homes Average Occupancy, year ended
December 31, 2022
Ending Occupancy, as of December 31, 2022
Residential Communities
Assembly Alexandria Alexandria, VA 2019 1990 532 95.2 % 95.3 %
Cascade at Landmark Alexandria, VA 2019 1988 277 95.2 % 92.8 %
Clayborne Alexandria, VA N/A 2008 74 95.9 % 94.6 %
Riverside Apartments Alexandria, VA 2016 1971 1,222 95.0 % 96.1 %
Bennett Park Arlington, VA N/A 2007 224 96.4 % 94.6 %
Park Adams Arlington, VA 1969 1959 200 96.2 % 96.5 %
The Maxwell Arlington, VA N/A 2014 163 95.9 % 96.3 %
The Paramount Arlington, VA 2013 1984 135 95.4 % 96.3 %
The Wellington Arlington, VA 2015 1960 711 95.4 % 94.9 %
Trove Arlington, VA N/A 2020 401 95.0 % 96.8 %
Roosevelt Towers Falls Church, VA 1965 1964 191 94.9 % 91.6 %
Assembly Dulles Herndon, VA 2019 2000 328 95.1 % 96.3 %
Assembly Herndon Herndon, VA 2019 1991 283 96.0 % 95.4 %
Assembly Leesburg Leesburg, VA 2019 1986 134 96.4 % 97.0 %
Assembly Manassas Manassas, VA 2019 1986 408 95.5 % 95.1 %
The Ashby at McLean McLean, VA 1996 1982 256 95.5 % 94.9 %
3801 Connecticut Avenue Washington, D.C. 1963 1951 307 96.2 % 94.5 %
Kenmore Apartments Washington, D.C. 2008 1948 374 96.0 % 94.1 %
Yale West Washington, D.C. 2014 2011 216 95.9 % 95.4 %
Bethesda Hill Apartments Bethesda, MD 1997 1986 195 95.3 % 93.8 %
Assembly Germantown Germantown, MD 2019 1990 218 96.6 % 95.9 %
Assembly Watkins Mill Gaithersburg, MD 2019 1975 210 96.3 % 96.2 %
The Oxford Conyers, GA 2021 1999 240 94.9 % 94.6 %
Marietta Crossing Marietta, GA 2022 1975 420 93.4 % 95.5 %
Carlyle of Sandy Springs Sandy Springs, GA 2022 1972 389 94.6 % 95.1 %
Alder Park Smyrna, GA 2022 1982 270 93.9 % 93.7 %
Assembly Eagles Landing Stockbridge, GA 2021 2000 490 94.6 % 94.3 %
Subtotal Residential Communities 8,868 95.3 % 95.2 %
Property Location Year Acquired Year Constructed/Renovated Net Rentable Square Feet Percent Leased, as of
December 31, 2022 (1)
Ending Occupancy, as of December 31, 2022 (1)
Office Building
Watergate 600 Washington, D.C. 2017 1972/1997 300,000 92.6 % 92.6 %
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(1) Percent leased and ending occupancy calculations are based on square feet and includes temporary lease agreements for Watergate 600. Percent leased is the percentage of net rentable area for which fully executed leases exist and may include signed leases for space not yet occupied by the tenant.
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ITEM 3: LEGAL PROCEEDINGS
None.
ITEM 4: MINE SAFETY DISCLOSURES
None.
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PART II