WILLIAMSBURG, VA. — Breeden Construction has delivered Governor’s Inn, a 164-unit apartment community located in Williamsburg. An entity doing business as CDG Holdings LLC is the developer behind the $33.5 million project. Governor’s Inn comprises six two- to four-story residential buildings, as well as community amenities including a swimming pool, fitness center, outdoor grilling station and a community clubhouse.
ARLINGTON, VA. — Penzance has submitted plans to Arlington County for the development of One Rosslyn, a three-tower multifamily development located in Arlington’s Rosslyn neighborhood. The Baupost Group is serving as a project partner for Penzance on the development. One Rosslyn will comprise a 30-story tower with 461 residential units, a 27-story tower with 319 apartments and an 82-unit condo tower. STUDIOS Architecture and Hickok Cole designed the project to span 900,000 square feet and offer upscale residences, amenities and neighborhood-serving retail space. Located at the intersection of Fort Myer Drive and Langston Boulevard, the project is designed around a 30,000-square-foot private landscaped terrace that will overlook the adjacent Gateway Park, which Arlington County is revamping. With the plans submitted, the county has formally begun the site plan review process. Penzance says One Rosslyn could break ground as soon as late 2026.
LYNCHBURG, VA. — Capital Growth Medvest has broken ground on a $105 million healthcare project in Lynchburg, a city in central Virginia at the foothills of the Blue Ridge Mountains. The project comprises two adjacent outpatient hospitals: Centra Rehabilitation Hospital (50 beds, 62,500 square feet) and Centra Behavioral Health Hospital (72 beds, 61,000 square feet). JE Dunn Capital Partners and Sila Realty Trust are capital partners on the project, and Carter Bank is providing senior construction financing. Operating partners on the project include Centra Health, LifePoint Rehabilitation and Lifepoint Behavioral Health, both of which are affiliates of LifePoint Health. The two Lynchburg projects represent Capital Growth Medvest’s sixth and seventh development partnerships with Lifepoint across six states. JE Dunn is serving as the general contractor for both hospitals, and Earl Swensson Associates and Stengel Hill Associates are the architects for the rehabilitation and behavioral health hospitals, respectively. Both facilities are slated for completion in late 2025.
FREDERICKSBURG, VA. — The Milestone Group has acquired two apartment communities in Fredericksburg totaling 676 units. The communities include Kensington Crossing (476 units) and Magnolia Falls (200 units). The seller and sales price were not disclosed. Milestone assumed the existing loans for both communities and plans to upgrade common areas and amenities. The previous owner fully renovated the interiors at both Kensington Crossing and Magnolia Falls.
FALLS CHURCH, VA. — Hoffman & Associates has signed two new retail tenants to join West Falls, a 10-acre mixed-use development in Falls Church that will comprise 1.2 million square feet at full build-out. The new businesses coming to the development include Dok Khao Thai Eatery and a Chase Bank branch. The restaurant is slated to open at 180 West Falls Station Blvd. in August, and the bank is set to open at 118 West Falls Station Blvd. in April. West Falls will feature more than 120,000 square feet of shops and restaurants, as well as The Alder apartments, The Reserve at Falls Church seniors housing community, a Home2 Suites by Hilton hotel, The Oak Condominiums and The Wellness Center, a medical office building.
SPRINGFIELD, VA. — Haverford Retail Partners has acquired Springfield Center, a 176,698-square-foot shopping center located at 6646 Loisdale Road in in Springfield, 14 miles south of Washington, D.C. The seller and sales price were not disclosed. Springfield Center was fully leased at the time of sale to eight tenants, including Barnes & Noble, DSW, Marshall’s and Bob’s Discount Furniture. The retail center represents Pennsylvania-based Haverford’s third property in the metro D.C. area.
ARLINGTON, VA. — Shoreham Capital has purchased Infinity Apartment Homes, a multifamily community in Arlington, for $51 million. Located within the Columbia Pike Corridor near Amazon’s HQ2 project, the property features 227 units in a mix of studio, one-, two- and three-bedroom layouts. Amenities at Infinity Apartment Homes include a swimming pool, fitness center, resident lounge, bike storage, package lockers and a business center. Robert Dean and Jonathan Greenberg of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller in the transaction. Cameron Chalfant and Tyler Johnson of IPA arranged a $35 million acquisition loan on behalf of Shoreham. The property recently underwent significant upgrades to unit interiors, security systems, fixtures and finishes.
VIRGINIA BEACH, VA. — Hamilton Zanze has sold Maple Bay Townhomes, a 414-unit apartment community located at 356 S. Chesire Court in Virginia Beach. The buyer and sales price were not disclosed. The San Francisco-based seller originally acquired the property in 2019 and improved net operating income by 35 percent due to comprehensive capital improvements made over the course of its ownership. These renovations included roof replacements, the repainting of building exteriors and upgrades to the apartment homes, pool area and other common-area amenities. Maple Bay was built in 1971 and features one-, two- and three-bedroom units sized from 1,000 to 1,400 square feet. The property represents Hamilton Zanze’s third disposition this year.
CHARLOTTESVILLE, VA. — A joint venture between Madison Capital Group and Inlet Property Co. has broken ground on Madison Charlottesville, an 86-unit apartment development located near the University of Virginia. Situated on a four-acre site off Rio Road, the property will feature studio, one- and two-bedroom apartments ranging in size from 575 to 1,211 square feet. Patterson Real Estate Advisory Group arranged an undisclosed amount of construction financing through Longline Financial on behalf of Madison Capital and Inlet Property. The construction timeline for Madison Charlottesville was not disclosed.
HAMPTON AND NEWPORT NEWS, VA. — Berkadia has arranged the sale of three multifamily properties located in Virginia’s Hampton Roads region — Abbington at Hampton Center and Abbington at Northampton in Hampton and Abbington Landing in Newport News. Together, the properties total 1,461 units. A majority of the units at the properties are designated for residents earning up to 80 percent of the area median income (AMI). Richmond-based Weinstein Properties sold the communities for an undisclosed price. Drew White, Carter Wood and Cole Carns of Berkadia represented Weinstein in the transaction. Richord Levine of Berkadia secured Freddie Mac acquisition financing on behalf of the buyer, Bethesda, Md.-based Acento Real Estate Partners.
