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Henrico apartment complex has 350 units
Henrico apartment complex has 350 units
Robyn Sidersky// July 22, 2022//
Henrico County-based real estate investment firm Capital Square has acquired The Trails at Short Pump, a 350-unit apartment community in western Henrico, the company announced Tuesday.
Located at 3900 Acadia Lane, the nearly 32-acre property offers one-, two- and three-bedroom units averaging 878 square feet each.
The acquisition is on behalf of CS1031 Trails at Short Pump, which seeks to raise $54.5 million in equity from accredited investors. The property is assessed at $58.1 million, according to county property records.
“Capital Square continues to own the home court from Northern Virginia through Central Virginia (Richmond and Williamsburg) to Tidewater with this latest acquisition in suburban Richmond,” Capital Square Founder and CEO Louis Rogers said in a statement. “This is Capital Square’s 21st acquisition of a Class A or B apartment community in Virginia. The region is experiencing exceptional stability, job production and rent growth.”
Will Mathews and Tommy Leachman of Colliers represented the seller, an entity associated with New York investment firm Angelo Gordon & Co. LP, in the transaction.
