Oyster Point Place is a 278-unit, 1969-built garden apartment located in Newport News, Virginia. Located in a solid rental market with excellent fundamentals, Oyster Point Place offers a superior value-add opportunity with a three-pronged value enhancement strategy. The property is also centrally located within close proximity to Newport News’ largest employers and their most popular retail destinations.
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Oyster Point Place
278 Units
102 Americana Drive
Newport News, VA  23606
Type: Conventional
Closed: 3/28/2017
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Sunrise Apartments
229 Units
705 Pool Road
Richmond, VA  23236
Closed: 11/1/2016
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Huguenot Apartments
296 Units
1701 Irondale Road
Richmond, VA  23235
Closed: 5/15/2015
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Baltimore Regional Apartment Portfolio (5 properties, 694 units)
Beacon Pointe Apartments
201 Units
2810 Nathaniel Way
Edgemere, MD  21219
Closed: 6/30/2014
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Baltimore Regional Apartment Portfolio (5 properties, 694 units)
Edgewood Park
132 Units
613 Edgewood Road
Edgewood, MD  21040
Closed: 6/30/2014
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Baltimore Regional Apartment Portfolio (5 properties, 694 units)
Forest Glen Townhomes
64 Units
4738 Wakefield Road
Baltimore, MD  21216
Closed: 6/30/2014
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Baltimore Regional Apartment Portfolio (5 properties, 694 units)
Fox Crossing
117 Units
6410 Walther Avenue
Baltimore, MD  21206
Closed: 6/30/2014
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Baltimore Regional Apartment Portfolio (5 properties, 694 units)
Hillsdale Manor Apartments
180 Units
4738 Wakefield Road
Baltimore, MD  21216
Closed: 6/30/2014
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Village Oaks
181 Units
815 Winters Lane
Catonsville, MD  21228
Closed: 11/25/2013
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515 North Washington Street
   
Alexandria, VA
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the City Center Portfolio, a 500-unit, four property portfolio located in Newport News, Virginia. The Properties - Kingstowne (1974 & 1985), Boston Cove (2008), Forrest Court (1971), and Victoria Place (1985) - exhibit strong value-add fundamentals with in-unit renovations which can generate significant rent increases, proven out within the broader submarket. A substantial amount of capital has been invested in the Properties that limits downside risk associated with deferred maintenance and will allow a new investor to focus on income generating renovations. Additionally, the Portfolio is being offered at a price significantly below replacement cost, providing investors with an incredibly attractive acquisition basis relative to newly constructed Class A properties. The Properties are strategically located around Newport News’ premier mixed-use development, City Center at Oyster Point, and have immediate access to I-64 only minutes away. The City Center Portfolio is a rare opportunity to combine irreplaceable Newport News locations and immediate scale with additional upside in the vastly expanding Hampton Roads market.
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Newport News City Center Portfolio (4 properties, 500 units)
Boston Cove
34 Units
828 Forrest Dr
Newport News, VA
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the City Center Portfolio, a 500-unit, four property portfolio located in Newport News, Virginia. The Properties - Kingstowne (1974 & 1985), Boston Cove (2008), Forrest Court (1971), and Victoria Place (1985) - exhibit strong value-add fundamentals with in-unit renovations which can generate significant rent increases, proven out within the broader submarket. A substantial amount of capital has been invested in the Properties that limits downside risk associated with deferred maintenance and will allow a new investor to focus on income generating renovations. Additionally, the Portfolio is being offered at a price significantly below replacement cost, providing investors with an incredibly attractive acquisition basis relative to newly constructed Class A properties. The Properties are strategically located around Newport News’ premier mixed-use development, City Center at Oyster Point, and have immediate access to I-64 only minutes away. The City Center Portfolio is a rare opportunity to combine irreplaceable Newport News locations and immediate scale with additional upside in the vastly expanding Hampton Roads market.
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Newport News City Center Portfolio (4 properties, 500 units)
Forrest Court
46 Units
827 Forrest Drive
Newport News, VA  23606
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Boston Cove, Victoria Place & Forrest Court (3 properties, 116 units)
Forrest Court
46 Units
827 Forrest Drive
Newport News, VA  23606
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the City Center Portfolio, a 500-unit, four property portfolio located in Newport News, Virginia. The Properties - Kingstowne (1974 & 1985), Boston Cove (2008), Forrest Court (1971), and Victoria Place (1985) - exhibit strong value-add fundamentals with in-unit renovations which can generate significant rent increases, proven out within the broader submarket. A substantial amount of capital has been invested in the Properties that limits downside risk associated with deferred maintenance and will allow a new investor to focus on income generating renovations. Additionally, the Portfolio is being offered at a price significantly below replacement cost, providing investors with an incredibly attractive acquisition basis relative to newly constructed Class A properties. The Properties are strategically located around Newport News’ premier mixed-use development, City Center at Oyster Point, and have immediate access to I-64 only minutes away. The City Center Portfolio is a rare opportunity to combine irreplaceable Newport News locations and immediate scale with additional upside in the vastly expanding Hampton Roads market.
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Newport News City Center Portfolio (4 properties, 500 units)
Kingstowne
384 Units
500 Oscar Loop
Newport News, VA  23606
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Pebble Creek
468 Units
3345 Circle Brook Drive
Roanoke, VA  24014
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Ravensworth Towers, a well maintained value-add high-rise apartment community in a supply constrained submarket within the Washington Metro area. Built in 1973, Ravensworth Towers has recently received a large infusion of capital to improve the asset quality. The Property offers a proven value-add opportunity with current rental premiums of approximately $120 based on a comprehensive upgrade that includes stainless steel appliances, plank wood flooring throughout the unit and new washers and dryers. This renovation package can be enhanced to mirror newer product in the submarket for additional rent increases. Similar properties in the submarket that have undergone full renovations currently rent at $195 more than Ravensworth Towers, and instituting a full renovation package can achieve rental premiums that will close the gap between the Property and its competitors. Ravensworth Tower’s location in proximity to I-495 and I-395 provides immediate access to the region’s many major employers and the most significant employment centers throughout the Washington Metro area. The Property’s desirable location and additional renovation upside presents investors with the rare opportunity to acquire a value-add, infill high-rise in one of the Washington region’s best locales.
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Ravensworth Towers
219 Units
4327 Ravensworth Rd
Annandale, VA  22003
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present the City Center Portfolio, a 500-unit, four property portfolio located in Newport News, Virginia. The Properties - Kingstowne (1974 & 1985), Boston Cove (2008), Forrest Court (1971), and Victoria Place (1985) - exhibit strong value-add fundamentals with in-unit renovations which can generate significant rent increases, proven out within the broader submarket. A substantial amount of capital has been invested in the Properties that limits downside risk associated with deferred maintenance and will allow a new investor to focus on income generating renovations. Additionally, the Portfolio is being offered at a price significantly below replacement cost, providing investors with an incredibly attractive acquisition basis relative to newly constructed Class A properties. The Properties are strategically located around Newport News’ premier mixed-use development, City Center at Oyster Point, and have immediate access to I-64 only minutes away. The City Center Portfolio is a rare opportunity to combine irreplaceable Newport News locations and immediate scale with additional upside in the vastly expanding Hampton Roads market.
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Newport News City Center Portfolio (4 properties, 500 units)
Victoria Place
36 Units
831 Forrest Drive
Newport News, VA  23606
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Boston Cove, Victoria Place & Forrest Court (3 properties, 116 units)
Victoria Place
36 Units
831 Forrest Drive
Newport News, VA  23606
The Cushman & Wakefield Mid-Atlantic Multifamily Advisory Group is pleased to present WestWind Apartment Homes, a 288-unit value add apartment community in Roanoke, Virginia. The asset is situated in close proximity to Valley View Mall, the premier retail amenity in the Roanoke MSA, with easy access to additional lifestyle amenities and major roadways. Built in 1981 & 1985, WestWind Apartment Homes represents an outstanding value-add opportunity through the continuation of washer and dryer installation and through light interior upgrades with premiums being proven in the broader market. The Property’s exceptional location within the expanding Roanoke economy presents investors a rare opportunity to acquire a well-positioned community significant future growth opportunities.
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WestWind
288 Units
3069-E Ordway Dr. NW
Roanoke, VA  24017