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Calif.-based company buys Sterling apartment complex for $27.15M
An affordable housing complex for seniors in Sterling has sold for $27.15 million, Irvine, California-based Avanath Capital Management announced late last week. Avanath acquired the 150-unit Cascades Village located at 46565 Harry Byrd Highway from Community Village at Sterling LP, according to Loudoun County property records. “Avanath was attracted to Sterling because home pricing and […[...]
Construction begins on $20M Norfolk apartment complex
Construction began late last week on a $20 million apartment complex at the site of the former American Cigar Co. in Norfolk, according to S.L. Nusbaum Realty Co. The 118-unit complex (including one-, two- and three-bedroom floor plans) will be located at 1140 and 1148 E. Princess Anne Road in Norfolk’s Bruce’s Park neighborhood. The […]
Manchester apartment complex sells for $11.4M
An apartment complex in Richmond’s Manchester neighborhood sold for $11.4 million, CBRE announced Tuesday. The 70-unit, 61,614-square-foot apartment complex is located at 815 Perry St. Glen Allen-based real estate investment group Capital Square 1031, which originally purchased the property in 2015, sold it to Washington, D.C.-based Fulton Street Partners LLC. The property was 96% occupied[...]
Apartments developer buys 13 acres in Chesterfield for $4M+
An apartment complex developer has purchased a 13-acre site in Chesterfield County for $4.025 million, Commonwealth Commercial Partners LLC announced Friday. Located at 6767 Iron Bridge Road, the complex will include 230 apartment units, a clubhouse and a pool. Austin Woods Development Co. sold the property to Waverton Development Inc. in a transaction that closed […]
Martinsville apartment complex sells for $2.52M
An apartment complex in Martinsville sold for $2.525 million, Cushman & Wakefield | Thalhimer announced Thursday. Located at 16 Molly Circle, the Wellington Manor Apartments includes 62 town house-style units. The property was sold by TP Two LLC and Wellington Inc. to Wellington Manor Apartments LLC. The complex is located directly off of U.S. Route […]
Richmond affordable housing complex sells for $4.8M
An affordable housing apartment complex in Richmond has sold for $4.8 million, commercial real estate investment firm Greysteel announced Monday. The McGuire Park Apartments were built in 1945 and redeveloped in the early 2000s through the Low Income Housing Tax Credit program. Richmond Area Housing purchased the 80-unit complex from NRS Realty. The average unit […]
Norfolk apartment complex sells for $17M
The Brittany Place apartment complex in Norfolk has sold for $17 million, New York City-based commercial real estate company Berkadia Commercial Mortgage LLC announced late last week. Located at 6143 Edward Street, the complex includes 148 two-bedroom units. The Affordable Housing Corp. sold the property to 6143 Edward Street LLC in a transaction that closed […]
Va. Beach apartment complex sells for $6.575M
The Falcon Point apartment complex in Virginia Beach has sold for $6.575 million, Colliers International announced Thursday. Seminole Trail Properties purchased the property from The Runnymede Corp. Located at 2105 Lake Smith Drive, Falcon Point includes 64 apartment units. It was constructed in 1971 and has received both exterior and interior renovations. The apartment complex […]
Five-story apartment complex to be built in Henrico County
A five-story apartment complex will be built at the intersection of Maywill and Thalbro Streets in Henrico County, Cushman & Wakefield | Thalhimer announced Tuesday. Bristol Maywill Partners LLC purchased the 2.1 acres of land for $2 million from 2001 Maywill LLC. The apartment complex will be part of a mixed-use development, which will include […]
Williamsburg apartment complex sells for $26.25M
A 224-unit apartment complex in Williamsburg sold for $26.25 million, New York City-based commercial real estate company Berkadia Commercial Mortgage LLC announced Friday. The Regency at Longhill apartments are located at 5302 Lane Place Drive, which is less than 3 miles from the Warhill Sports Complex, the Williamsburg Premium Outlets mall, Highway 60 and Humelsine […]
Radford University off-campus apartments sell for $36.1M
More than 200 apartment units near Radford University sold for $36.1 million, Richmond-based real estate company One South Commercial announced this week. The buildings bought by Highland Apts I LLC, a special-purpose entity (SPE) associated with Reston-based real estate investment firm Willow Creek Partners. Radford-based developer and operator Price Williams Realty entities sold the properties, [...]
Two apartment complexes in Va. Beach sell for $7M+
Two apartment complexes in Virginia Beach have sold for $3.1 million and $4.525 million, respectively, commercial real estate investment company Marcus & Millichap announced this week. The Green Meadows Apartments sold for $3.1 million and the Breezy Meadows Apartments sold for $4.525 million, said Benjamin Yelm, regional manager of the firm’s Hampton Roads office. Cohen […]
