Capital Properties Inc. is considering an outright sale or a recapitalization of a portfolio of four apartment properties worth approximately $500 million in the Washington, D.C., area, Real Estate Alert reported.

The real estate company engaged Cushman & Wakefield as an adviser on the potential transaction, and the properties are being marketed to investors looking for value-added opportunities in Greater Washington.

The properties total 1,400 units with an average area of 925 square feet and have an 89.3% average occupancy.

The portfolio comprises the 443-unit Huntington Gateway at 5982 Richmond Highway in Alexandria, Va.; the 389-unit Vaughan Place at 3401 38th St. NW in the Cathedral Heights section of Washington, D.C.; the 310-unit North Park at 4615 North Park Ave. in Chevy Chase, Md.; and the 258-unit Residences at Capital Crescent Trail at 5325 Westbard Ave. in Bethesda, Md.

It remains unclear whether the bids being sought would be for individual properties or the entire portfolio, according to the report.