NorthMarq Negotiates $167M Sale of Four-Property Multifamily Portfolio in Virginia

Pictured is Impressions in Newport News, Va., which was part of the Waverton Virginia Portfolio, which Waverton Associates recently sold for $167 million.

RICHMOND, VA. — NorthMarq’s Richmond office has negotiated the $167 million sale of the Waverton Virginia Portfolio, a four-property multifamily portfolio in Richmond, Newport News and Norfolk. Mike Marshall, Wink Ewing, Keith Wells and Ryan Rilee of NorthMarq represented both the seller, Portsmouth, Va.-based Waverton Associates Inc., and the buyer, an undisclosed regional investor, in the transaction.

The portfolio includes Meridian Watermark, a 300-unit property in Richmond. The community is situated at 6500 Caymus Way, 15 miles south of downtown Richmond.

There were two properties in Newport News in the sold portfolio: the 244-unit Denbigh Village and the 414-unit Impressions I, II and III. Denbigh Village is located at 14332 Deloice Crescent, 31 miles north of downtown Norfolk. Impressions is situated at 501 Coral Key Place, 29 miles north of downtown Norfolk.

Lastly, Marina Villa, a 105-unit asset in Norfolk, is located at 8150 Shore Drive, nine miles northeast of downtown Norfolk.

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