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Besyata, Scharf Group Acquire 352-Unit Multifamily Community in Virginia Beach for $37.7M

VIRGINIA BEACH, VA. — Besyata Investment Group and The Scharf Group have purchased Brookfield Apartment Homes, a multifamily property located at 1101 Craftsman Drive in Virginia Beach. Bonaventure Investment Group sold the property for $37.7 million. Constructed in the early 1970s, Brookfield comprises 44 two-story apartment buildings holding 352 units. The property includes two swimming pools, two community rooms and a tennis court. George Hankins and Victoria Pickett of CBRE|Hampton …

Acquisitions, Multifamily, Southeast, Virginia

Greystone Provides $74.5M Freddie Mac Financing for 1,768-Unit Multifamily Portfolio in Southern Virginia

NEW YORK — Greystone has provided $74.5 million in Freddie Mac financing for a 16-property multifamily portfolio located across Virginia. New York-based The Lightstone Group, a privately held real estate company, is the borrower. Dan Sacks of Greystone’s New York office originated the separate loans for the various affordable housing and market-rate rental properties. Greystone provided a combination of both affordable and conventional market-rate Freddie Mac loans, each with 10-year terms. …

Loans, Multifamily, Southeast, Virginia

HFF Arranges $90M Sale of New Multifamily Property in Northern Virginia

ARLINGTON, VA. — HFF has arranged the sale of 672 Flats, a newly completed multifamily community located in Arlington’s Ballston submarket. The Chevy Chase Land Co. acquired the property from a joint venture between The Penrose Group and Clark Enterprises for $90 million. Walter Coker and Brian Crivella of HFF represented the seller in the deal. The buyer purchased the property free and clear of existing debt. Jamie Leachman, Chris Hew and Nicole Brickhouse of HFF’s debt placement …

Acquisitions, Multifamily, Southeast, Virginia

RLN Acquires 184,270 SF Industrial Building in Richmond for $2.1M

RICHMOND, VA. — RLN Co. has purchased an industrial property located at 1500 Commerce Road in Richmond. Keck Realty sold the property to RLN for $2.1 million. The buyer plans to utilize a portion of the 184,270-square-foot facility, which is situated on 9.4 acres, as the new Rental Works headquarters while leasing out the remaining space. Rental Works is a tool rental service based in Virginia's Henrico County. Isaac DeRegibus of Cushman & Wakefield | Thalhimer represented the seller in the …

Acquisitions, Industrial, Property Type, Southeast, Virginia

Berkadia Secures $36M in Construction Financing for Multifamily Property Near Richmond

MIDLOTHIAN, VA. — Berkadia has arranged $36 million in financing for Westchester Apartments, a garden-style multifamily property under construction in Midlothian, about 15 miles west of Richmond. Costa Canavos and Amy Gay of Berkadia’s Richmond office secured the loan through the Virginia Housing Development Authority. The 20-month, interest-only construction loan converts to an amortizing 30-year permanent loan. Located on Perimeter Drive, the property will feature 238 apartment units and …

Development, Loans, Multifamily, Southeast, Virginia

Bridge Acquires 255,000 SF Office Campus in Metro D.C.

RESTON, VA. — Bridge Investment Group has acquired The Campus at Sunrise, a 255,000-square-foot office campus in Reston. The three-building property is situated on 12 acres, roughly 22 miles west of Washington, D.C. Bridge will renovate all three buildings, constructed between 1987 and 1990, with updated lobby areas, an enhanced tenant amenity center, flexible spec suites, communal outdoor areas and special events and entertainment for tenants. The Campus at Sunrise is situated within …

Acquisitions, Office, Southeast, Virginia

Colliers Arranges $39.5M Sale of Apartment Community in Richmond

RICHMOND, VA. — Colliers International has arranged the $39.5 million sale of Axis 147, a 290-unit apartment community in Richmond. Will Matthews, Carter Wood, Jason Hetherington and Bruce Milam of Colliers International arranged the transaction on behalf of the seller, a joint venture between Lincoln Property Co. and Ritz Banc Group. Capital Square 1031 acquired the asset. Axis 147 features a pool, playground, pet play area, sundeck and private balconies or

Acquisitions, Multifamily, Southeast, Virginia

Cushman & Wakefield | Thalhimer Arranges $6.2M Sale of Retail Portfolio in Richmond

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has arranged the $6.2 million sale of two-property retail portfolio in Richmond. The first asset, Tower Plaza, totals 22,580 square feet and was 91 percent leased at the time of sale. The center is home to tenants such as El Paso Mexican Restaurant, Sherwin Williams and Organic Cleaners. The second property, Rockwood Plaza, was fully leased at the time of sale. The 38,954-square-foot retail center houses tenants such as Wolfgang’s Gym, …

Acquisitions, Retail, Southeast, Virginia

Cushman & Wakefield | Thalhimer Arranges $14.7M Sale of Office Building in Richmond

RICHMOND, VA. — Cushman & Wakefield | Thalhimer has arranged the $14.7 million sale of 206,068-square-foot office building located at 6606 W. Broad St. in Richmond. Thalhimer Realty Partners (TRP), the investment and development subsidiary of Cushman & Wakefield | Thalhimer, acquired the asset from Southern States. TRP will rename the building Brookfield Place. The property, which was 70 percent leased at the time of sale, serves as the headquarters for Southern States Cooperative. …

Acquisitions, Office, Southeast, Virginia

Berkadia Secures $41M HUD Refinancing for Apartment Community in Richmond

RICHMOND, VA. — Berkadia has arranged a $41 million loan for the refinancing of Malvern Manor Apartments, a garden-style multifamily community located at 41 Malvern Ave. in Richmond. Steve Murden and David Blake of Berkadia arranged the 34-year loan through the U.S. Department of Housing and Urban Development (HUD)’s 223(f) program on behalf of the borrower, Malvern Manor Apartments LLC. Originally constructed in 1948, Malvern Manor has had numerous improvements in recent years, including a …

Loans, Multifamily, Southeast, Virginia
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