Chandler Residential Makes Virginia Purchase

The 156-unit property in Newport News last traded in 2017 for more than $19 million.
Legacy at Tech Center. Image courtesy of Colliers International

Chandler Residential has acquired Legacy at Tech Center, a 156-unit community in Newport News, Va. K2 Real Estate Partners sold the Class B asset three years after purchasing it for $19.2 million from Harbor Group International, according to Yardi Matrix data. Colliers International assisted the seller in the current deal. Earlier this month, Chandler made an $80 million purchase in Atlanta

Situated on more than 12 acres at 2112-A Criston Drive, the community encompasses 13 two-story buildings developed in stages in 1969 and 1974, Yardi Matrix shows. The unit mix features two- and three-bedroom floorplans ranging from 1,025 to 1,800 square feet.

The property is 2 miles northwest of downtown Newport News, across from Marketplace at Tech Center, a Whole Foods-anchored shopping mall. Tech Center Research Park is 1 mile southeast.

The Colliers team representing the seller included Senior Vice President G.S. Hankins, First Vice President Victoria Pickett, Senior Vice President Charles Wentworth and Managing Director Will Mathews, together with Associates Clay Ellis and Garrison Gore.