Arbor Trace

Posted: 3/23/2021
148 Units
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Under Contract
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Before & After

About

About Arbor Trace

Arbor Trace Apartments is a rare opportunity to acquire an institutionally maintained asset with future upside potential in the Mid-Atlantic’s leading apartment market. The Property was built in 1985 and has had significant recent capital invested by ownership to enhance amenities, improve common areas and mitigate future risk associated with capital needs. Arbor Trace is 98% occupied and positioned near the bottom of its competitive set on an average rent basis. Rental premiums have been proven out on a renovation at the Property, which can be replicated and expanded upon for additional rent increases. The Property is located within the highly desirable Hilltop Retail corridor with significant lifestyle amenities within walking distance including one of only two Whole Foods Markets in the Hampton Roads region. Market fundamentals have remained strong through the Covid-19 pandemic which is evidenced in both the asset’s operations and across the submarket. The broader Hampton Roads apartment market has outperformed all other Mid-Atlantic investment markets over the past year with strong projections projected to continue in 2021 and beyond. This presents investors the ability to acquire an institutional quality asset in a robust apartment market with value-add upside in the highly sought after Virginia Beach market.

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