Exclusive: Bernstein Cos. Sells 338 Units in Suburban DC
Harbor Group issued a $44 million loan for the buyer.
Raith Capital Partners has purchased The Highline, a 338-unit community in Hyattsville, Md., from The Bernstein Cos., according to Yardi Matrix information. Harbor Group International issued a $43.8 million acquisition loan, with a maturity date slated for August 2031.
A partnership between The Bernstein Cos. and Aria Development Group, The Highline came online in 2020 at 6445 America Blvd. This is the first time the LEED Silver-certified property has changed hands since opening.
The Highline was an adaptive-reuse project in which an office building originally completed in 1968 was redeveloped into a residential building. The 10-story community consists of 24 studios, 197 one-bedroom, 114 two-bedroom and three three-bedroom residences, with layouts ranging from 530 to 1,740 square feet. Shared amenities include a fitness center, pet spa, coworking space, sunroom and a 90-spot parking area.
The Highline is near Mall at Prince George’s shopping center, which features a tenant roster that encompasses Target, Old Navy, T.J. Maxx and Macy’s. Major thoroughfares in the area include U.S. Route 1 and Maryland State routes 410, 212 and 193, which connect Hyattsville to downtown Washington, D.C., 7 miles southwest.
Metro DC multifamily investment activity soars
The property is surrounded by more than 100 multifamily communities within a 3-mile radius, amounting to upward of 28,200 units, Yardi Matrix shows. Among these is Wesley House, which traded earlier this year for $12.8 million. In June, Cubed Partners purchased the asset, which features 127 units, out of which 120 are affordable housing.
Nationwide, Washington, D.C., ranked second-highest in multifamily transaction volume in the first half of 2026. The metro registered more than $2 billion in sales through June, nearly double the $1.1 billion recorded in the first six months of 2025. A total of 7,219 units across 27 properties changed hands, at an average per-unit price of $283,851, up 3.3 percent from the previous year.
