Richmond-Hampton Roads

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.

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.

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.

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.

Abberly at CenterPointe

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.

H2 Capital Nabs Virginia Assets

The Mid-Atlantic purchase is the first out-of-state deal for the Colorado-based company. H2 Capital paid a combined $20.6 million to acquire two communities totaling 300 units.

PAC Buys Recently Built Virginia Community

The company purchased Founders Village, a 247-unit community in Williamsburg, Va., and financed the acquisition using a portion of the proceeds from a 1031 exchange sale.

Dan Frink Joins Greystone’s FHA Lending Team

The company’s new managing director brings two decades of industry experience, having served D3G for the past 20 years.

Berkadia Lines Up $34M Refi for Richmond Asset

The firm worked on behalf of Stone Creek Apartments to arrange a HUD loan for the 264-unit property.

Princeton Enterprises Nabs Richmond-Area Community

Webster Court in Petersburg traded for roughly $18,750 per unit.