Drucker + Falk Sells Three-Property Multifamily Portfolio in Virginia for $113M

Pictured is the 220-unit Hanover Crossing Apartments in Mechanicsville, Va., which The Kushner Cos. acquired as part of a three-property portfolio.

NEWPORT NEWS, MECHANICSVILLE AND HENRICO, VA. — DF Ventures, a division of Drucker + Falk, has sold a three-property, 710-unit apartment portfolio in Virginia for $113 million. The three properties are the 300-unit Chesapeake Bay Apartments in Newport News, the 220-unit Hanover Crossing Apartments in Mechanicsville and the 190-unit Wilde Lake Apartments in Henrico. Drucker + Falk acquired the portfolio in 2016 for $68.5 million and invested $10.5 million to upgrade the unit interiors, exteriors and amenity spaces across all three properties. The Kushner Cos. acquired the portfolio. Charles Wentworth, Hank Hankins and Will Matthews of Colliers International represented the seller in the transaction.

Get more news delivered to your inbox. Subscribe to France Media's e-newsletters. Click here.

Related News

Webinars on Demand


Read the Digital Editions

Heartland Recent Issue

Northeast Recent Issue

Southeast Recent Issue

Texas Recent Issue

Western Recent Issue

Shopping Center Business

California Centers

Ancillary Retail

Student Housing Business

Seniors Housing Business

Featured Properties