The Meridian Apartments at 653 Monument Road in Arlington sold Feb. 9 for $51.5 million.
Spyglass Capital Partners LLC of Demarest, New Jersey, sold the 360-unit property through Spyglass – The Canopy LLC.
Duncan Hillsley Capital of Boca Raton purchased the property through Meridian Jacksonville LLC.
The per-unit price is $142,500.
Built in 1987 on 19.82 acres, the community comprises one-, two- and three-bedroom units in 17 three-story buildings. The apartments are 629 to 1,338 square feet.
Monthly rents are $1,171 to $1,643, according to apartments.com. Some units are available furnished.
Amenities include a pool, clubhouse, fitness center, business center, playground, racquetball, tennis and volleyball courts, a putting green, game room, grill and picnic area.
There is on-site maintenance, a pet play area and washing station, and a car wash area.