Multifamily news in Richmond

  • Upscale Demand Boosts Rent Growth in Richmond

    After trailing the U.S. average throughout the current cycle, the metro’s rent growth reached 2.6 percent as of December, bucking the national trend during 2017’s fourth quarter.

    06 March 2018 14:48
  • Walker & Dunlop Secures $34M HUD Loan for VA Community

    Dwight Dunton III of Bonaventure Realty Group and Philip Roper III bought Meridian Parkside in 2016. The financing will be used to pay off a portion of the ownership's assumed debt.

    23 February 2018 16:37
  • Aurelie Capital Spends $20M in Richmond

    Millspring Commons, a 159-unit community in Virginia, is the new private equity firm’s first acquisition. The company plans to add value by finishing a renovation program started by the previous owner.

    12 January 2018 16:27
  • Hunt Obtains $23M Financing for VA and MD Assets

    The company provided an acquisition loan for the 176-unit Trellis at Lee’s Mill Apartments in Newport News, Va., as well as a refinancing loan for the 162–unit Hickory Hill Apartments in Frederick, Md.

    15 December 2017 17:36
  • Value-Add Portfolio Trades in Norfolk, VA

    The five-community portfolio offers 124 units and easy access to the beach. The buildings are located near several planned projects in the Ocean View area.

    08 December 2017 16:03
  • Fulton Hill Properties Breaks Ground on Richmond Project

    Artisan Hill will be a 204-unit community adjoined by an artists' gathering place. The development, located at 1000 Carlisle Ave., near several parks and trails, is slated for completion in 2019.

    09 November 2017 14:03
  • High-Paying Jobs Add to Upscale Demand in Richmond

    Although overall employment growth is tepid and continues to trail the national rate, the metro’s economy is slowly but steadily diversifying, drawing investors and large projects.

    23 October 2017 13:45
  • Hunt Mortgage Facilitates Acquisition Loan for VA Property

    The company worked on behalf of Thalhimer Stratford to secure financing for the purchase of Stratford at Williamsburg, a 156-unit apartment community in Williamsburg, Va.

    20 October 2017 15:29
  • Berkadia Secures $96M for PA, VA Properties

    The company's HUD team secured financing for three properties: $67.1 million for two properties in Philadelphia, the largest HUD 223(f) loans originated in the area in the last five years, and $29.1 million for a property in Richmond, Va.

    20 September 2017 15:57
  • Pillar Provides Freddie Mac Loan for Richmond Community

    The company originated a $10.4 million, 7-year loan for the acquisition of a 348-unit community located in the Bellwood. The asset has an occupancy rate of 97.4 percent.

    19 July 2017 10:04
  • Overbuilding in Richmond?

    Following several years of strong supply, the area's multifamily market is shifting down a gear. With almost 20,000 units in the pipeline, the metro is at risk of overbuilding.

    26 June 2017 13:16
  • Upcoming VA Community Lands $24M Construction Financing

    Berkadia’s Senior Managing Director David Blake arranged a 40-year loan for the development of a 168-unit residential property in Christiansburg, Va.

    19 June 2017 20:58
  • Richmond Community Changes Hands

    The 75-unit 2001 East Apartments, which is located close to the Church Hill Historic District, traded for $9.7 million. Rents at the residential property, which also has two commercial suites, equate to an average of $1,177.

    09 June 2017 16:39
  • Richmond Assets Trade for $6M

    Marcus & Millichap brokered the sale of The Park at Forest Hill and Chateau de Ville, two properties totaling 119 units. The communities are located within a three-minute drive of each other.

    29 May 2017 13:30
  • Richmond Development Scores $40M Construction Loan

    Berkadia arranged the financing on behalf of the developer, HHHunt Corp. First units will be available for occupancy by summer of 2018, and the community will be completed next summer.

    26 May 2017 16:02