High-End Community Opens in Hampton Roads
- Sep 29, 2016
By Bogdan Odagescu, Associate Editor
Owned and managed by the Franklin Johnston Group, the property is located at 2520 Allie Nicole Circle and encompasses a mix of one-, two- and three-bedroom apartments. Southern Pine offers six floor plans with an average unit size of 1,290 square feet and an average monthly rent of $1,534. Located between the Virginia Beach National Golf Club and Courthouse Marketplace, the Hampton Roads community is close to the intersection of Princess Ann Road/Route 165 and Nimmo Parkway.
Sitting on 15.7 acres, the pet-friendly property offers a plethora of high-end amenities, including a resort-style swimming pool, a two-lane bowling alley, a two-story clubhouse, a 24-hour fitness center, a tanning salon, a conference room, a waterfront pavilion and two ponds.
According to Yardi Matrix data, Southern Pine is subject to a $36.5 million, 3.97 percent fixed-interest HUD construction loan originated by Wells Fargo in June 2015.
The Virginia Beach-based Franklin Johnston Group currently holds a 51-property portfolio, with most assets being concentrated in the Hampton Roads area, Richmond, Northern Virginia and Atlanta.
Image courtesy of southernpineapts.com