Berkadia Arranges $52.5M Sale of The Flats at Legacy in Poquoson, Virginia

POQUOSON, VA. — Berkadia has arranged the $52.5 million sale of The Flats at Legacy, a 176-unit community in Poquoson, a city in the Hampton Roads region of Virginia. Drew White, Carter Wood, Matt Straughan and Cole Carns of Berkadia Richmond led the transaction on behalf of the seller, Franklin Group of Virginia Beach, Virginia. Utah-based Ceifa Capital acquired the property in a transaction that closed on May 29. Completed in 2024, The Flats at Legacy is located on 24 acres at 200 Big Woods Drive. The property comprises 176 garden-style apartment homes across four-story residential buildings. Floor plans include one-, two- and three-bedroom units. A resort-style saltwater pool with cabanas, outdoor grilling stations and a covered pergola are among the property’s amenities. Also included is a clubhouse with an entertainment lounge and catering kitchen, fitness center, coworking space and electric vehicle charging stations.