Sign In
Free Newsletter
Charlottesville-area apartment complex sells for $57M
A 324-unit apartment complex just outside Charlottesville has sold for $56.75 million. Tysons-based Willow Creek Partners sold the property, Barracks West Townhomes & Apartments, to West End Capital Group, according to a Feb. 14 news release from commercial real estate brokerage KLNB, which arranged the sale. Willow Creek Partners acquired the apartment complex at 255 […]
400-unit apartment complex sells for $84M in Norfolk
A 400-unit apartment community in Norfolk sold for $84 million, according to a late May news release from Croatan Investments. Originally built in 1991, the garden-style apartment community, Park Crescent, had 454,735 rentable square feet at the time of sale, according to Croatan. FPA Multifamily purchased the property from a joint venture of Croatan and […]
Vanguard Landing apartments under construction in Va. Beach
Vanguard Landing, an “intentional community” specifically designed for people with intellectual and developmental disabilities, is under construction in Virginia Beach. Developers broke ground on the first phase in April and started construction in earnest in May. The mixed-use community, which claims to be the first of its kind in Virginia, will eventually have housing for […]
Arlington apartment tower sells for $48.5M
A 162-unit high-rise apartment property in Arlington County has changed hands. Fortis Cos., a Washington, D.C.-based real estate development and investment company, acquired Marlowe Apartments from Equity Residential for $48.5 million, according to Berkadia, a commercial real estate services and mortgage firm, and Arlington County property records. The 162-unit property located at 400 15th St. [&h[...]
Norfolk apartments are sold for $3.1M
A 20-unit apartment property in Norfolk sold for $3.1 million on March 20. Located at 1314 and 1318 Little Bay Ave., the property has 20 one-bedroom units that are each 600 square feet. The units were built in 1970. Tidewater View sold the property to Nouveaux Little Bay. Justin Ferguson, Altay Uzun, Theo Jolley and […]
Apartment buildings in Portsmouth sell for $2.4M
A 17-unit apartment property in Portsmouth sold for $2.4 million, Marcus & Millichap announced Tuesday. Built in 1987, Effingham Green Condos has 17 two-bedroom, one-bathroom units across two buildings on 2 acres. The property is located at 1007 Green St. Capps Equity sold the property to Nouveaux Effingham. Justin Ferguson, Altay Uzun, Theo Jolley and […]
HHHunt starts work on 2,200-home development in Midlothian
Construction has started on a new master-planned community in Chesterfield County’s Midlothian area that will bring hundreds of single-family homes, town houses, apartments and commercial space. Glen Allen-based developer HHHunt and real estate investment firm GrayCo are developing The Aire at Westchester. The 334-acre tract is at Route 288 and Midlothian Turnpike on the western […]
Pembroke Square starts phase 2 of mall redevelopment
Pembroke Square will begin the next phase of demolition Monday on the former Pembroke Mall in Virginia Beach, as part of a $200 million mixed-use redevelopment project. The roof and columns of the mall’s structure will be removed at the northeast entrance, north of Kohl’s on the Constitution Drive side of the former mall. A […]
Va. Beach apartment complex sells for $36M
Dove Landing, a 318-unit apartment complex in Virginia Beach, has changed hands, Berkadia announced Jan. 31. Chesapeake-based Community Investment Group bought the property for $36 million from Enterprise Community Development, a nonprofit affordable housing provider in the mid-Atlantic, according to a news release from Berkadia. Dove Landing, at 5301 Justin Court, was built in 1982, renovated [&[...]
Historic Richmond apartment building sells for $5.25M
A 32-unit apartment building in Richmond sold for more than $5.52 million on Jan. 16, according to city property records. Located at 3003 Parkwood Ave., The Parkwood was listed on the National Register of Historic Places in 2016. Built in 1941 and designed by well-known Richmond architects J. Binford Walford and O. Pendleton Wright, the […]
Franklin apartments sell for $18M
A 244-unit apartment community in Franklin sold for $18 million on Dec. 28, 2023, according to a news release from S.L. Nusbaum Realty. Located at 201 Forest Pine Road, the Forest Pine Apartments have traditional and garden-style one-, two- and three-bedroom units. The 23.27-acre property has a community swimming pool and playground area. Forest Pine […]
Norfolk apartment complex sells for $38.5M
Enterprise Community Development, a nonprofit affordable housing provider, has purchased Woodmere Trace, a 300-unit Norfolk community, from Raleigh, North Carolina-based Fulton Peak Capital. Enterprise closed the $38.5 million sale on Dec. 20, 2023. Woodmere Trace is located at 6741 Tanners Creek Drive. The 300 garden-style apartments, comprised of one- and two-bedroom units, were built in [&helli[...]
