Meadow View Townhomes 2020

About Meadow View Townhomes 2020

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to offer Meadow View Townhomes, a premier workforce housing community in Newport News, VA, one of the Hampton Roads MSA’s best locales. Newport News is experiencing a prolonged economic growth cycle that is derived from increasing levels of federal spending. The Department of Defense budget is set through 2024, creating economic certainty from increased spending while Newport News Shipbuilding is currently carrying a $45B backlog. This stable economic activity will filter into Class B and C apartment fundamentals in Newport News as the submarket’s rent growth strongly correlates with DoD spending in the region. Rent growth at the Property level has also outpaced the broader submarket with most recent leases showing even more elevated trends. Numerous value enhancing strategies are being proven out at the property which will add significant NOI growth in Year 1. Further, current ownership has invested significant recent capital into the Property to limit risk associated with deferred maintenance and allow new ownership to focus on revenue generating items.