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Lynchburg apartments sell for $8.15M
The Gish Flats Apartments in Lynchburg have been sold for $8.15 million, Colliers announced Tuesday. The two buildings at 317 5th St. include 66 units. Eight 8 Properties LLC purchased the apartment buildings from Gish Flats LLC. Gish Flats, near downtown Lynchburg, underwent renovations in 2016, according to Colliers. Charles Wentworth, Garrison Gore, G.S. “Hank” […]
Williamsburg apartments sell for $100M
Alexandria-based real estate company Bonaventure has sold The Bend Arbordale apartments in Williamsburg for $100 million. Bonaventure sold the 289-unit apartment complex to Illinois-based The Inland Real Estate Group, Bonventure announced Friday. Located at 401 Bulifants Blvd., the community has two- and three-bedroom apartments with private balconies or patios. It has a swimming pool, fitness [&h[...]
Alexandria apartments sell for $50.1M
Baltimore-based Continental Realty Corp. has sold 101 North Ripley Apartments in Alexandria for $50.1 million, the company announced last week. Washington, D.C.-based real estate investment and management firm Willow Creek Partners acquired the apartment community, formerly known as Parkwood Court. The community has 189 units, with one-, two- and three-bedroom floorplans. It was first acquired [&h[...]
Breeden breaks ground on Richmond apartments
The Breeden Co. has broken ground on a $21 million expansion at The Village at Westlake Apartments in Richmond, the Virginia Beach-based real estate development and management company announced Wednesday. The complex currently has 252 units across 12 buildings. The expansion will include five buildings with 120 two- and three-bedroom apartments between 1,177 and 1,490 […]
Breeden breaks ground on Newport News apartments
The Breeden Co. is breaking ground on a $33 million apartment project in the Huntington Pointe area of Newport News, the Virginia Beach-based real estate firm announced Thursday. Avant, located off Denbigh Boulevard, will have 176 one-, two- and three-bedroom apartments between 672 and 1,517 square feet each. Breeden Construction will serve as the general […]
Two Lynchburg apartment complexes sell for $7M
Two Lynchburg apartment communities have sold for $7 million, Cushman & Wakefield | Thalhimer announced Wednesday. Deal Properties sold Bramblewood Apartments, with 71 units, and Craigmont Manor, with 24 units, to BWCM Apartments LLC. BWCM plans to upgrade the properties. Clay Taylor of Cushman & Wakefield | Thalhimer’s Capital Markets Group out of Roanoke and […]
Hot property
Richmond real estate developer Andrew Basham’s company, Spy Rock Real Estate, owns so many properties within Scott’s Addition that local business owners jokingly refer to the neighborhood as “Andrew’s Addition.” As the area has become Richmond’s hottest neighborhood — literally and figuratively — Basham and his business partners at Spy Rock appear to have been [&h[...]
Yorktown, Newport News apartments sell for $45M, $36.7M
Two apartment properties in Hampton Roads have been sold by Philadelphia-based Resource REIT Inc., Colliers announced last week. Pines of York, a 248-unit apartment complex built in 1974 and located at 3100 Hampton Highway in Yorktown, sold for $45 million. New Jersey-based Riverpass Holdings LLC purchased the property from Resource REIT. Tech Center Square, an […]
Norfolk townhome community sells for $77M
Crown Point Townhomes, a 480-unit apartment community in Norfolk, has sold for $77 million, Berkadia announced Monday. Bush Cos. sold the property, at 5371 Wyngate Drive, to a New Jersey-based buyer. The garden-style, multifamily property has two-, three- and four-bedroom floor plans and is located near Military Circle Mall. David Hudgins of Berkadia Newport News […]
Lynchburg apartments sold for $4.1M
A four-property multifamily apartment portfolio including 55 apartments has been sold in Lynchburg for $4.1 million. The portfolio was sold to a local investment group, AC Capital LLC, which intends to pursue a value-addef strategy to upgrade the properties, all located in Lynchburg. The properties are at 200 Cleveland Ave. (Windsor Apartments), 3710 Fort Ave. […]
Caravati’s building in Richmond sells for $2.03M
The former Caravati’s Inc. building in Richmond sold for $2.03 million, Colliers International in Virginia announced Sept. 2. Located at 104 E. Second St. in the Manchester area, the two-story building has 38,000 square feet. The buyer, 104 E. Second St. LLC, plans to develop the building into 42 apartment units. Construction is expected to […]
Va. Beach apartment complex where Pharrell lived sells for $24.5M
The Virginia Beach apartment complex where music superstar Pharrell Williams lived until he was 7 has been sold for $24.5 million to Fairstead, a New York-based real estate company focused on sustainable development and affordable housing. The company announced Thursday that it plans a $15 million overhaul of the Atlantis Apartments in Virginia Beach’s Seatack […]
