ARLINGTON, Va.— I found a press release under the door of my Riverhouse apartment (my lease ends tomorrow) announcing the sale of the complex to Vornado/Charles E. Smith. Riverhouse has been owned by Cafritz for a long time, perhaps since the complex opened in the 1960s.
I heard this rumor last week and immediately wondered if it would be going condo. For quite a while I speculated that as soon as I bought property, Riverhouse would go condo though that does not appear to be happening at this time. Cafritz will continue to manage the complex for a year if rumors are to be believed.
I have a feeling Cafritz was not actively looking to sell the property and got a deal they couldn’t refuse from Charles E. Smith which already owns a lot of buildings in the Pentagon City/Crystal City area.