MDH Partners Sells 58-Property Sunbelt Logistics Portfolio Located Across 10 States for $1.3B

ATLANTA — MDH Partners has sold its 58-property Sunbelt Logistics Portfolio to an undisclosed global institutional investor for $1.3 billion. MDH will retain an ownership stake in the portfolio and will continue to operate the properties. The portfolio spans 9.7 million square feet of industrial space across 10 states, including 11 properties in Georgia; 10 properties in Florida; eight properties in Texas; seven properties each in Arizona and Missouri; four properties each in Tennessee …

June 30, 2022Arizona, Florida, Georgia, Industrial, Kentucky, Midwest, Missouri, North Carolina, South Carolina, Southeast, Tennessee, Texas, Top Stories, Virginia, Western

Bonaventure Sells Bend Arbordale Apartments in Williamsburg, Virginia for $100M

WILLIAMSBURG, VA. — Bonaventure, a multifamily owner-operator based in Alexandria, Va., has sold The Bend Arbordale, a 289-unit apartment community located at 401 Bulifants Blvd. in Williamsburg. The Inland Real Estate Group purchased the asset for $100 million. Drew White and Carter Wood of Berkadia represented Bonaventure in the sale. Situated near Sentara Williamsburg Regional Medical Center and I-64, The Bend Arbordale offers two- and three-bedroom floor plans with in-unit washers and …

June 27, 2022Acquisitions, Multifamily, Southeast, Virginia

Hunter Brokers Sale of 295-Room Delta Hotel in Virginia Beach

VIRGINIA BEACH, VA. — Hunter Hotel Advisors has brokered the sale of Delta Hotel by Marriott Virginia Beach Bayfront Suite, a 295-room hotel located on the north shore of Virginia Beach. The beachfront hotel was renovated in 2020 and features three food and beverage options, including Tin Cup Kitchen + Oyster Bar, as well as a fitness center and outdoor pool. Lingerfelt CommonWealth Partners sold Delta Hotel to a joint venture between BlackPearl Capital and an affiliate of Paceline Equity …

June 22, 2022Acquisitions, Hospitality, Southeast, Virginia

Finmarc Acquires Industrial, Data Center Portfolio in Springfield, Virginia for $127.5M

SPRINGFIELD, VA. — Finmarc Management, a real estate investment and management firm based in Bethesda, Md., has purchased an 11-building portfolio from Boston Properties in Springfield for $127.5 million. The portfolio spans 740,000 square feet of industrial, flex/office and data center space in one- and two-story properties. Situated near Fort Belvoir and I-95, the portfolio was 74 percent leased at the time of sale to tenants including ADT Security Systems, Avaya, SAIC, The Vomela Cos. and …

June 17, 2022Acquisitions, Data Centers, Industrial, Office, Southeast, Virginia

LEGO Group Plans $1B Toy Factory in Metro Richmond, Its First in the U.S.

CHESTERFIELD, VA. — Danish toymaker LEGO Group has released plans for a 1.7 million-square-foot factory in Chesterfield, a southern suburb of Richmond. Over the course of 10 years, LEGO estimates it will invest $1 billion in the project and generate 1,760 jobs.Located on 340 acres, the project also includes a solar park that will produce 100 percent of the factory’s energy needs. Construction is scheduled to begin this fall, with full production beginning in 2025.The property will …

June 17, 2022Development, Industrial, Southeast, Top Stories, Virginia

CRC Sells 101 North Ripley Apartments in Alexandria, Virginia for $50.1M

ALEXANDRIA, VA. — Continental Realty Corp. (CRC) has sold 101 North Ripley Apartments, a 189-unit multifamily community in Alexandria formerly known as Parkwood Court. CRC sold the property for $50.1 million, or approximately $265,000 per unit. The Baltimore-based company originally purchased the community in 2011 for $23 million, or $121,000 per unit. Washington, D.C.-based Willow Creek Partners purchased 101 North Ripley, which offers seven different floor plans in one-, two- and …

June 14, 2022Acquisitions, Multifamily, Southeast, Virginia

TSB Realty Arranges Sale of 909-Bed Student Housing Property Near Old Dominion in Norfolk

NORFOLK, VA. — TSB Realty has arranged the sale of The Next at ODU, a 909-bed student housing property located near Old Dominion University in Norfolk. The Michaels Organization sold the community to Saxum Real Estate for an undisclosed price. Delivered in 2010, the property offers shared amenities including a resort-style swimming pool and spa, 24-hour fitness center, tanning, a clubroom, business center and shuttle service to campus. Units offer bed-to-bath parity alongside features …

June 7, 2022Acquisitions, Southeast, Student Housing, Virginia

ABMAR Villa Park Acquires Lab, Warehouse Complex in Henrico County, Virginia for $12.4M

HENRICO COUNTY, VA. — AMBAR Villa Park LLC has purchased Villa Park I, a flex lab/industrial complex located in Henrico County, from an undisclosed seller for $12.4 million.Located at 8040 Villa Park Drive, the 74,862-square-foot property offers significant warehouse and lab buildouts. At the time of sale, Villa Park I was 94 percent occupied by three tenants, including LabCorp and Technology Integration Group. LabCorp’s space is the company’s regional medical lab testing hub for …

June 2, 2022Acquisitions, Office, Southeast, Virginia

Foundry Commercial Buys 24-Property Spring Arbor Senior Living Portfolio in Mid-Atlantic

ORLANDO — Foundry Commercial, in partnership with an investment fund managed by Morgan Stanley Real Estate Investing, has purchased the Spring Arbor Senior Living collection of 24 assisted living and memory care communities across the Mid-Atlantic. As part of the transaction, Foundry Commercial acquired the current operator, which will continue to manage the properties post-closing.The portfolio contains 1,424 units throughout Maryland, North Carolina and Virginia, with capacity for more …

June 1, 2022Acquisitions, Maryland, Multifamily, North Carolina, Seniors Housing, Southeast, Virginia

Trammell Crow, Diamond Realty Break Ground on 125,000 SF Medical Office Building in Falls Church, Virginia

FALLS CHURCH, VA. — Trammell Crow Co. and Diamond Realty Investments have broken ground on The Wellness Center at West Falls, a six-story medical office building in Falls Church. Slated for delivery in late 2023, the 125,000-square-foot property is part of West Falls, a 1.2 million-square-foot mixed-use property master-developed by Hoffman & Associates.The Wellness Center at West Falls is designed specifically for medical users with the ability to accommodate clinical and surgical …

June 1, 2022Development, Healthcare, Southeast, Virginia