TOWNHOUSE DEVELOPMENT SOLD FOR $23 MILLION

NEWPORT NEWS, VA. — Newport Housing has sold the 300-unit Townes at Jones Run townhouse development to Breeden Investment Properties for $23 million. The property consists of 38 one- and two-story buildings on 24 acres of land in Newport News. Amenities include a 4,000-square-foot clubhouse and a pool. Michael Early of Marcus & Millichap's Williamsburg, Va., office and Steve Witten and Victor Nolletti of the firm's New Haven, Conn., office brokered the sale.