REBusinessOnline

Blackfin, GMF Capital Acquire Multifamily Community in Fredericksburg, Virginia for $23.5M

Communal amenities at Southpoint Reserve at Stoney Creek include a clubhouse, pool, grilling stations, 24-hour fitness center, business lounge, playground and a sand volleyball court.

FREDERICKSBURG, VA. — A joint venture between Blackfin Real Estate Investors and GMF Capital LLC has acquired Southpoint Reserve at Stoney Creek, a 156-unit multifamily community in Fredericksburg, for $23.5 million. The property offers one-, two and three-bedroom floor plans ranging in size from 450 to 1,075 square feet. Communal amenities include a clubhouse, pool, grilling stations, 24-hour fitness center, business lounge, playground and a sand volleyball court. The property was built in 1985 and is located at 5300 Steeplechase Drive, equidistant to Richmond and Washington, D.C. The seller was not disclosed. Christopher Doerr and William Harvey of Walker & Dunlop brokered the off-market transaction.

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