American Real Estate Partners, an institutional fund manager and operating partner focused on data center, residential, industrial, and office assets, completed the acquisition of 1101 King Street, a redeveloped 200k square foot building. Financial terms were not disclosed. “We are thrilled with the acquisition of 1101 King. It sits in the very center of historic Old Town Alexandria and rises four stories above the buildings around it with views of the entire city. The balconies on each level are more like terraces, with many 10 to 20 feet in depth. It is a one-of-a-kind asset that can never be replicated. This asset illustrates AREP’s strategy of looking for special properties in vibrant and emerging locations that can be repurposed for residential use,” Doug Fleit, AREP Co-Founder & CEO.