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The Flats at West Broad Village is Richmond’s premier multifamily property, offering a unique lifestyle experience that is not replicated in the broader Richmond market. The asset’s town center construction with structured parking is unique in the Richmond market with significant amenities including Whole Foods and Trader Joe’s within walking distance. The Property, built in 2009, combines institutional quality construction and timeless exterior architecture with newly created, best-in-class amenities creating an unmatched luxury offering. Additional value can be added by replicating a proven in-unit renovation which is achieving a $165 premium on average. Further, 9,000 square feet of recently created, high end amenity space has not yet been utilized as a leasing tool and is a differentiator among luxury properties in the immediate area. The Property’s location is the best in Richmond, along the bustling West Broad Street corridor with access to high-end retail and the region’s preeminent office park Innsbroook. The Flats at West Broad Village’s exceptional asset quality, premier location and walkable lifestyle amenities, make it a rare opportunity to acquire Richmond’s most unique asset with additional renovation upside in the high growth Richmond apartment market.
The Flats at West Broad Village
339 Units
3930 Wild Goose Lane
Glen Allen, VA  23060
Closed: 10/15/2021
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Turnpike Townhomes (the "Property"), a pristine 100-unit apartment community built in 2008 located in Danville, Virginia. The Property is well positioned within the market to take advantage of the rapid economic growth and development driven by Caesars Entertainment Group’s commitment to spend $400 million to open a premier destination resort casino in Danville. Located along the southern border of Virginia, 70 miles south of Roanoke, Virginia, and 45 miles northeast of Greensboro, North Carolina, Danville is currently experiencing an economic resurgence which has generated sustained economic growth resulting in pre-COVID unemployment levels at an 18-year record low of 4.40%. The area is a significant hub for advanced manufacturing with major employers including both national and international companies and the home of Sovah Health, a 250-bed major regional hospital that employs over a thousand professionals. The Property is owned and managed by a private individual and the opportunity exists to introduce significant efficiencies on the income side including organic rental growth and utility expense recapture to create long term value and stable cash flow for a new investor.
Turnpike Townhomes
100 Units
1300 Franklin Turnpike
Danville, VA  24540
Type: Conventional
Closed: 6/11/2021
Modera Fairfax Ridge is a rare opportunity to acquire a best-in-class asset in one of the leading jurisdictions in the dynamic Northern Virginia market. The Property’s location at the nexus of I-66 and VA Route 50 provides direct connectivity to the region’s largest economic engines and employment centers including Tysons, Reston/Herndon, the R-B Corridor, Alexandria, and downtown Washington DC. This coupled with a pronounced outmigration trend from the urban core has led to strong renter demand from an affluent population historically and over the previous 12-months. The asset’s location in proximity to George Mason University provides additional pent up rental demand once students return to in-person learning. The micro market surrounding Modera Fairfax Ridge is supply constrained with limited future supply under construction or planned. This will allow Modera Fairfax Ridge to experience above market growth with tight occupancy through 2021 and beyond. The asset’s Fairfax County location makes for a stable, consistent investment with strong future growth prospects in one of the nation’s safest metropolitan areas during times of economic uncertainty.
Modera Fairfax Ridge
213 Units
3887 Fairfax Ridge Rd
Fairfax, VA  22030
Closed: 5/20/2021
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present The Hill, a gut renovated 13-unit property in the heart of Washington, DC’s Capitol Hill neighborhood. Originally constructed in 1955 and completely renovated and modernized in 2020, The Hill is the premier opportunity to acquire a core asset in the city’s most historic neighborhood. Building systems have all been replaced and modernized with new mini-split heating and AC units, in-unit washer-dryers and condo-quality finish levels. The Property’s one-of-a-kind location at the intersection of Independence Avenue, Pennsylvania Avenue and 2nd Street Southeast creates immediate connectivity to the Capitol Building and Library of Congress in addition to unbelievable access to the city’s largest employment nodes, including Amazon HQ2. The Capitol South Metro Station is only two blocks from the Property, providing dynamic optionality for residents to access to the entire city and the greater Washington metro area. The Hill’s exceptional location and premium finish level presents investors with the rare opportunity to acquire a core asset with organic upside in one of the District’s most highly sought after neighborhoods.
The Montana
13 Units
220 2nd Street SE
Washington, DC  20003
Closed: 12/28/2020
Cushman & Wakefield is pleased to present Urban Green Apartments, a 352 unit Class A apartment community in Urbana - Frederick, MD’s most exclusive rental market. The Property’s location proximate to the region’s most trafficked accessways, I-270 and I-70, provides direct connectivity to the largest economic engines in the greater Washington, DC MSA. Convenient access to tremendous employment in Urbana, Frederick, the I-270 Technology Corridor and Northern Virginia is creating sustained demand from an affluent renter base. Additionally, the Frederick County Public School System creates a significant draw for younger renters who are looking for the unique combination of a top-tier education system at a relatively affordable cost of living. This increased demand is creating strong apartment market fundamentals with effective rent growth in the submarket of 3.75% YoY in Q4 2019 and vacancy of just 3.94%. Urban Green’s exclusivity in the submarket and premier school district are driving the Property to grow Gross Potential Rent 4.34% over the year which is significantly outperforming the greater market. Property operations at Urban Green will remain strong moving forward due to a severely supply constrained development pipeline and projected annual effective rent growth of 3.08% in the Frederick submarket from 2020 to 2024.
Urban Green
352 Units
3300 Galena Drive
Frederick, MD  21704
Type: Conventional
Closed: 12/23/2020
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.
Ravensworth Towers
219 Units
4327 Ravensworth Rd
Annandale, VA  22003
Closed: 5/7/2020
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.
384 Units
500 Oscar Loop
Newport News, VA  23606
Closed: 1/21/2020
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Hidden Creek Apartment Homes, a 300 unit luxury apartment community in one of Maryland’s most sought after locales. The Property, built in 2012, combines high quality unit finishes with best in class amenities which are unrivaled in suburban apartment communities. The Property’s position along the I-270 technology corridor with immediate access to some of the region’s largest employers provides consistent tenant demand from high-earning renters by choice. Hidden Creek is being offered subject to an in-place loan with below market interest rate and accretive LTV. Hidden Creek’s exceptional location within Montgomery County, Maryland and top of the market unit features and amenities make it a rare opportunity to acquire a high-quality asset with attractive in-place cash flow in the expanding Washington metro regional economy.
Hidden Creek
300 Units
430 Allied Place Suite 1110
Gaithersburg, MD  20877
Closed: 8/30/2019

Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present South Bank Apartments, a 150-unit, core-plus apartment community located in Richmond’s Manchester submarket, a booming urban village located in the heart of the city. Built in 1937 and completely renovated in 2018, the Property combines dynamic industrial character with modern comforts to satisfy the unique tastes of urban renters.

The Property enjoys an excellent location with immediate access to the iconic James River as well as major employment centers in Richmond, which is home to 11 Fortune 1000 companies. South Bank’s exceptional location and unique features make it a rare opportunity to acquire a re-imagined asset with additional upside in the expanding Richmond economy.

South Bank
150 Units
307 Stockton St
Richmond, VA  23224
Closed: 7/31/2019
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Berkeley-Warwick Place Townhomes, two apartment communities totaling 265-units located in Richmond, VA. The Properties are well located, both adjacent to one of the Richmond metro’s largest hospitals, with access to significant employment and retail amenities within a short drive. The Properties offer additional value-add upside through the implementation of an interior unit renovation being proven out in the broader submarket with the ability to gain operational efficiencies through expense reduction. Berkeley-Warwick Place presents investors with the opportunity to acquire well located, value-add apartment communities with substantial growth prospects in the expanding Richmond economy.
Berkeley & Warwick Place
265 Units
2231 Chalfont Drive
Richmond, VA  23224
Closed: 5/29/2019
Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group is pleased to present Crowne at Swift Creek, a 312-unit apartment community located in one of the Richmond area’s most desirable suburbs. The Property, built in 2004, features high-end amenities and unique unit features which mirror newly constructed communities. The Property has achieved rental premiums associated with a kitchen and bath renovation program which can be expanded upon to match finish levels with new communities for additional rent increases. The Property is located in one of Richmond’s most desirable submarkets with demographics which greatly exceed the broader MSA. Significant big box and convenience retail surrounds the Property with access to VA-Rt 288, an important regional throughway which connects employment centers along I-95 and I-64, minutes away. Crowne at Swift Creek’s exceptional location, and asset quality make it a rare opportunity to acquire a 2004 vintage, value-add asset in the expanding Richmond market.
Crowne at Swift Creek
312 Units
13101 Lowery Bluff Way
Midlothian, VA  23112
Closed: 1/29/2019