Snell owns and manages a diverse real estate portfolio across multiple asset types.
The core of the company’s portfolio is formed by several legacy multifamily assets developed by Snell from the mid-1950s through the 1960s, composed of 4,050 units in 18 building across 5 apartment communities. All of these properties remain relevant in the market today and more than half have been fully renovated.
In the 1960s and 1970s, the company also developed two office buildings (300,000 total square feet) and a 221-room hotel, which it still owns. These cash-flowing commercial properties represent excellent land positions for future redevelopment. All of the company’s legacy assets are located in Arlington, Alexandria, or Fairfax County.
Approximately 85% of the multifamily portfolio is owned in partnership with two long-term partners; however, two significant apartment communities are wholly-owned by Snell. Snell is also the sole owner of the office and hotel properties.
In 2018, Snell acquired two new wholly-owned multifamily properties, one in Washington D.C.’s U Street corridor and the other in Annapolis Town Center. The construction of both buildings was completed in 2016.
Snell also has an ongoing land development in Richmond, VA. Since 2007, the company has developed four high-rise condominium projects, two office buildings, and is also a partner in an apartment building that finished construction in 2018 and another that is currently under construction. Most of the buildings in this walkable neighborhood also contain in-line retail. Also, Snell has developed approximately 150 finished townhouse lots as well as land for 100 stacked towns. All of these lots have been sold and the homes completed. Additional land bays are currently under development for townhome and condominium builders.
Snell is actively pursuing land use approvals to development high-rise multifamily/mixed-use projects on its commercial sites in Rosslyn and Ballston, Virginia.