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Pines of York, Tech Center Square sold by Philadelphia REIT
Pines of York, Tech Center Square sold by Philadelphia REIT
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 apartment community built in 1985 with 208 apartments, has been sold for $36.7 million. Bethesda, Maryland-based Walde Management LLC purchased the property, located at 128 Jefferson Point Lane in Newport News, from Resource REIT.
The complex is near the Oyster Point Shopping Center, a busier area of Newport News. The new owner plans a comprehensive renovation program for unit interiors and common areas, according to Colliers.
