Wednesday, October 28, 2026
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AcquisitionsMultifamilySoutheastVirginia

Newmark Arranges $108M Sale of Multifamily Community in Metro Richmond

by John Nelson

MIDLOTHIAN, VA. — Newmark has arranged the $108 million sale of Bainbridge Midlothian, a 310-unit, Class A apartment community located at 12400 Dutton Road in Midlothian, a suburb of Richmond in Chesterfield County. Frontier Group of Cos. acquired the property from a joint venture between The Bainbridge Cos. and BVT National Partners. Bainbridge Midlothian represents Frontier’s first multifamily acquisition in Virginia. Garrison Gore, Charles Wentworth and Victoria Pickett of Newmark represented the seller in the transaction. Frontier has retained Bainbridge Cos. to manage the property. Built in 2024 on 25.8 acres, Bainbridge Midlothian features a mix of studio, one-, two- and three-bedroom apartments averaging 1,017 square feet in size. Amenities include a resort-style saltwater swimming pool, 24-hour fitness center, clubhouse, coworking spaces, pickleball court, dog park and private wooded walking trails.

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Midtown64_Illustrative
Leasing ActivityMixed-UseRetailSoutheastVirginia

Greenberg Gibbons Signs Trader Joe’s, Onelife Fitness to Join $500M Mixed-Use Project in Richmond

by Abby Cox

RICHMOND, VA. — Greenberg Gibbons has signed two new anchor retail tenants — Trader Joe’s and Onelife Fitness — at Midtown64, a 64-acre mixed-use project in Richmond. The first phase of the $500 million development, which includes the project’s 130,000-square-foot retail component, is expected to be completed in 2028. Onelife Fitness, which will occupy 65,000 square feet across two levels, will offer a turf training area, indoor saltwater pool, kid’s club, recovery suite and spa-inspired locker rooms, as well as studios dedicated for boxing, Pilates and stretching. Upon completion, Midtown64 will include 300,000 square feet of office space, nearly 1,000 apartments, 194 for-sale townhomes and a hotel, in addition to the retail space.

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AcquisitionsRetailSoutheastVirginia

Ziff Real Estate Partners Sells Trader Joe’s-Anchored Shopping Center in Richmond for $41.3M

by John Nelson

RICHMOND, VA. — Mt. Pleasant, S.C.-based Ziff Real Estate Partners has sold Stony Point Village, a 112,238-square-foot shopping center located at 3000-3002 Stony Point Road in Richmond’s Bon Air neighborhood. Charlotte-based Asana Partners purchased the center for nearly $41.3 million. Trader Joe’s anchors Stony Point Village, which also houses Sephora, Virginia ABC and Planet Fitness. Ziff Real Estate Partners purchased the shopping center in 2019 when it was 47 percent occupied.

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AcquisitionsMultifamilySoutheastVirginia

Hamilton Zanze Sells 196-Unit Apartment Community in Virgina Beach

by John Nelson

VIRGINIA BEACH, VA. — San Francisco-based Hamilton Zanze has sold Indigo 19, a 196-unit, garden-style apartment community located at 1940 Pavilion Drive in Virginia Beach. The buyer and sales price were not disclosed. Built in 2013, Indigo 19 features one-, two- and three-bedroom apartments averaging 931 square feet in size, as well as a resort-style pool, two-story clubhouse, business center and bicycle storage. Hamilton Zanze sponsored the acquisition of the property in 2020 and invested in exterior, interior and systems upgrades during its ownership period.

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Affordable HousingDevelopmentLoansSoutheastVirginia

Merchants Capital Arranges $97.8M in Financing for Affordable Housing Project in Newport News, Virginia

by Abby Cox

NEWPORT NEWS, VA. — Merchants Capital has arranged $97.8 million in financing for the rehabilitation of Stuart Gardens, a 491-unit affordable housing property located in Newport News. Merchants Capital secured a $62.8 million HUD 221(d)(4) loan and $35 million in equity bridge loans provided by Merchants Bank, an affiliate of Merchants Capital. Stuart Gardens’ capital stack also includes low-income housing tax credit (LIHTC) equity, federal and state historic tax credits and Green and Resilient Retrofit Program (GRRP) financing via HUD for energy efficient improvements. The current owner and developer, Vitus Group, is leading the rehabilitation of the property, which will include exterior improvements like a new playground, connections to an adjacent park and walking path, and fresh roofing, siding and exterior doors and windows. In-unit repairs will include the replacement of existing flooring, updated appliances, new kitchen cabinetry and updated bathrooms. Stuart Gardens comprises 109 two-story buildings. All residential units are reserved for families earning 60 percent of the area median income (AMI) under a Section 8 Housing Assistance Payment (HAP) contract. Built in 1941 by the Defense Homes Corp. during World War II, the property has been designated as a historic property by the Virginia Board of Historic Resources. Upon …

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Affordable HousingDevelopmentSoutheastVirginia

Fairstead Tops Out $120M Samuel Madden Homes Redevelopment Project in Old Town Alexandria, Virginia

by Abby Cox

ALEXANDRIA, VA. — A public-private partnership between Fairstead, Harkins, Alexandria Redevelopment and Housing Authority (ARHA) and The Communities Group has topped out the $120 million redevelopment of Old Town Alexandria’s historic Samuel Madden public housing complex. Upon completion, the six-story, 295,000-square-foot mixed-use project will feature 207 affordable housing residences reserved for families earning between 30 and 80 percent of the area median income (AMI). As part of the building initiative, the project includes efforts to record and preserve the stories of current and former residents, with a goal of capturing at least 10 oral histories. Key archaeological findings will be showcased in brochures and interpretive signage across the community. Planned for completion in 2027, the project will feature community gathering spaces, a new neighborhood food hub operated by ALIVE!, as well as other amenities designed to support residents and the broader Alexandria community like a new creative studio for podcast recording, a game room with free high-speed internet access, an interior courtyard and energy- and water-efficient design strategies developed in partnership with the Virginia Center for Housing Research at Virginia Tech.

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The_Residence_at_Colvin_Run
AcquisitionsMarylandSeniors HousingSoutheastVirginia

Cushman & Wakefield Brokers $89M Sale of Two-Property Seniors Housing Portfolio in Mid-Atlantic

by Abby Cox

GREAT FALLS, VA. AND QUEENSTOWN, MD. — Cushman & Wakefield has brokered the $89 million sale of two assisted living and memory care facilities in Virginia and Maryland. The portfolio includes The Residence at Colvin Run, a 62-unit community built in 2022 and located at 1131 Walker Road in Great Falls, and Queenstown Landing, a 68-unit community built in 2021 and located at 120 Shoreway Drive in Queenstown. The facilities were 94 percent occupied at the time of sale. Joshua Jandris, Brett Gardner, Robert Bracci and Evan Jakobsze of Cushman & Wakefield represented the sellers — Buvermo Investments, SHA Capital, Verity Commercial and INDIE — in the transaction. The buyer, Westlake Village, Calif.-based LTC Properties, retained IntegraCare to operate the properties.

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AcquisitionsOfficeSoutheastVirginia

JLL Arranges Sale of 10-Story Office Building in Northern Virginia’s Tysons Region

by John Nelson

MCLEAN, VA. — JLL has arranged the sale of a 10-story, Class A office building located at 8270 Greensboro Drive in McLean, part of Northern Virginia’s Tysons submarket. Andrew Weir, Kevin Byrd, Jim Meisel, Dave Baker and Trey Ramsey of JLL represented the seller, Nuveen Real Estate, in the transaction. Onward Investors purchased the 166,393-square-foot office building for an undisclosed price. Built in 1999 and renovated in 2021, 8270 Greensboro Drive was 96 percent leased at the time of sale to 13 tenants. Amenities include a redesigned lobby and elevator entrance, tenant lounge and kitchenette with a 100-person indoor/outdoor conference center, furnished outdoor patio, renovated common corridors and a restaurant on the ground level.

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LoansMultifamilySoutheastVirginia

Walker & Dunlop Arranges $86.5M Refinancing of New Apartment Community in Richmond

by John Nelson

RICHMOND, VA. — Walker & Dunlop has arranged an $86.5 million loan for the refinancing of Chasen, a new 352-unit apartment community located in the Scott’s Addition neighborhood of Richmond. Alexandra Huffman, Justin Nelson, Andrew Tapley, P.J. Feichtmeier, Eric Norris and Jared Diedrich of Walker & Dunlop arranged the variable-rate, interest-only bridge financing through a private credit lender on behalf of the borrower, locally based Capital Square. Fully delivered earlier this year, Chasen offers studio, one-, two- and three-bedroom residences, along with more than 5,000 square feet of ground-floor retail space. Amenities include a resort-style pool, fitness center, rooftop terrace, club room with a golf simulator, whiskey lounge, coworking center, dog wash station and courtyards.

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AcquisitionsIndustrialSoutheastVirginia

Victoria Industrial Acquires Seven-Building Portfolio in Northern Virginia for $75M

by John Nelson

STERLING, HERNDON AND CHANTILLY, VA. — Victoria Industrial Properties, a real estate investment firm based in New Jersey, has acquired a seven-building industrial and flex portfolio in Northern Virginia’s Dulles Corridor for $75 million. Klein Enterprises sold the 308,656-square-foot portfolio to Victoria Industrial, which acquired the assets in partnership with Lincoln Equities Group. The portfolio represents the first acquisition for Victoria Industrial. Thomas Didio, Jason Lundy, Max Custer, Evan Parker, Craig Childs, Nazario Paragano and John Cumming of JLL arranged acquisition financing and helped facilitate an equity investment from InterVest Capital Partners. The portfolio, located in Sterling, Herndon and Chantilly, was 90 percent leased at the time of sale to tenants including Honeywell, Inova Health, Artis, Nightwing and Capital Electric.

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