Kensington Crossing & Magnolia Falls

About Kensington Crossing & Magnolia Falls

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Kensington Crossing and Magnolia Falls, a two property, 676-unit portfolio in Fredericksburg, Virginia. The 476-unit Kensington Crossing and 200-unit Magnolia Falls are minutes away from one another offering investors intriguing scale in Stafford County, one of Northern Virginia’s fastest growing jurisdictions. Kensington Crossing was built in three phases, with 152 units built between 1991 and 1992, and 320 units completed in 2003 with 9’ ceilings and fully sprinklered buildings. The Portfolio is located minutes away from some of Stafford County’s largest employers and within close proximity to significant retail amenities. The area’s appeal is demonstrated in the outsized population growth which has been experienced in the immediate area around the assets, outpacing that of Stafford County as a whole. This demand translates to lofty apartment market fundamentals with current and projected rent growth expected to exceed the broader DC metro area and average over 4.0% annually over the next 5-years. In addition to organic growth potential, Kensington Crossing and Magnolia Falls present intriguing mark to market potential with new leases achieving trade-out growth of 16.6% and 14.2% respectively. Each asset has seen significant capital invested in base building, amenities and unit renovations limiting capital risk. Both properties are being offered subject to below market existing financing to further magnify returns. Please note ownership will accept offers on a portfolio or individual asset basis.