Virginia

Capital Square Lands $86.5M Refinancing for Richmond Development

by Lynn Peisner October 14, 2026

RICHMOND, VA. — Capital Square has obtained an $86.5 million bridge refinancing loan from an unnamed lender for Chasen, a 352-unit property completed in phases from 2025 to 2026 in the Scott’s Addition area of Richmond. Capital Square broke ground on the project in April 2023. Walker & Dunlop’s Alexandra Huffman, Justin Nelson, Andrew Tapley, PJ Feichtmeier, Eric Norris and Jared Diedrich arranged the financing. Chasen consists of three six- and seven-story residential buildings on about 2.5 acres. The community offers studio, one-, two- and three-bedroom units, 5,000 square feet …

October 14, 2026

Affordable Housing Development Finance News Southeast Virginia

Merchants Capital Arranges $97.8M for Renovation of Historic Virginia Affordable Housing Property

by Lynn Peisner October 13, 2026

NEWPORT NEWS, VA. — Seattle-based affordable housing developer Vitus has begun a $70 million rehabilitation of the 491-unit Stuart Gardens community in Newport News. Merchants Capital arranged $97.8 million in permanent and bridge financing for the project, including a $62.8 million HUD-insured loan and $35 million in equity bridge financing. Vitus will modernize the residences, which were constructed in 1941 and are listed on the Virginia Landmarks Register and the National Register of Historic Places. The community originally served as defense housing for military personnel and wartime workers. According to …

October 13, 2026

Investment Sales News Southeast Virginia

PXV Buys Indigo 19 in Virginia Beach

by Lynn Peisner September 29, 2026

VIRGINIA BEACH, VA. — PXV Multifamily has acquired Indigo 19, a 196-unit community in Virginia Beach. PXV is backed by Houston-based BroadVail Capital Partners and aims to acquire $2 billion in multifamily assets over the next three years, according to the company. The seller and sales price were not disclosed. Indigo 19, built in 2013, was acquired in a joint venture with funds managed by Intercontinental Real Estate Corp. Amenities include a resort-style pool, two-story clubhouse, fitness center, business center and landscaped courtyards. PXV is planning updates, including new exterior …

September 29, 2026

Development News Southeast Virginia

Bonaventure Breaks Ground on $93.3M Attain at Swift Creek in Virginia

by Lynn Peisner August 28, 2026

CHESTER, VA. — Bonaventure has broken ground on Attain at Swift Creek, a 344-unit community in Chester, about 19 miles south of Richmond. Walker & Dunlop arranged a $93.3 million HUD loan that includes both construction and permanent debt. KBS is the general contractor, RBA is the architect, and Timmons Group is the civil engineer. A property management partner will be announced ahead of lease-up. Attain at Swift Creek will include one-, two- and three-bedroom units. Completion is slated for 2028. Alexandria, Virginia-based investment firm Bonaventure’s Attain pipeline is concentrated …

August 28, 2026

Berkadia Investment Sales News Southeast Virginia

Berkadia Arranges Sale, Financing for Masons Keepe in Manassas, Virginia

by Lynn Peisner July 15, 2026

MANASSAS, VA. — Bridge Investment Group has acquired Masons Keepe, a 270-unit property in Manassas for an undisclosed sum. Brian Crivella, Bill Gribbin, Yalda Ghamarian and Jack Canepa of Berkadia D.C. Metro along with Drew White of Berkadia Richmond arranged the sale on behalf of the seller, an entity doing business as University Village Apartments LLC. Located at 9000 Landings Drive, Masons Keepe was built in 2004 and consists of 17 buildings within a gated community. Units are offered as one- and two-bedroom floor plans. Brad Williamson of Berkadia Miami …

July 15, 2026

Colorado Finance News Texas Virginia Western

CBRE Arranges $380.2M Refinancing Loan for Crow Holdings

by Lynn Peisner July 13, 2026

DALLAS — Crow Holdings has obtained a $380.2 million refinancing loan for a five-property portfolio totaling 1,549 units in Texas, Colorado and Virginia. Each was developed by Trammell Crow Residential in partnership with Crow Holdings. CBRE’s Dallas-based Andy Scott, Michael Cosby, Kris Lowe, Tom Burns and Bo Beidleman arranged the financing through AllianceBernstein. The assets include Alexan Lower Greenville in Dallas, Alexan Braker Pointe and Alexan Waterloo in Austin, Texas, Alexan Julian in Denver and Alexan Florence in Alexandria, Virginia. Trammell Crow Co. is owned by CBRE. Crow Holdings is …

July 13, 2026

Affordable Housing Development Investment Sales News Northeast Virginia Washington, D.C.

GoodHomes Acquires Metro D.C. Hotel, Plans Multifamily Conversion

by Lynn Peisner July 9, 2026

ARLINGTON, VA. — GoodHomes Communities has acquired Arlington Court Suites in Alexandria for $35 million and plans to convert the 187-unit hotel into a 180-unit multifamily community. The KLNB multifamily capital markets team led by Rawles Wilcox, Justin Shay and Dutch Seitz and the HREC Investment Advisors team of Mark Morris and Scott Stephens represented the seller, Arlington Hotel Holdings Inc. GoodHomes is a New York City-based investor that acquires under-performing hospitality and seniors housing assets and redevelops them as workforce housing serving residents earning between 60 and 120 percent …

July 9, 2026

Development News Northeast Virginia Washington, D.C.

Gilbane Starts Construction of Office-to-Residential Project in Metro D.C.

by Lynn Peisner July 7, 2026

ARLINGTON, VA. — Gilbane Development has begun construction of Renley, an office-to-residential conversion at 3601 Wilson Blvd. in Arlington’s Virginia Square neighborhood. Gilbane acquired the building, developed in 2000, in March 2025. The community will include 94 market-rate units in one-, two- or three-bedroom floor plans. Renley represents one of the first projects to take advantage of Arlington County’s updated adaptive reuse policy, adopted in November 2024, which lowered costs and removed regulatory hurdles for developers. The redevelopment plan will preserve the building’s exterior façade. Inside, amenities will include tenant storage …

July 7, 2026

Affordable Housing Development News Southeast Virginia

Pennrose, Partners Break Ground on Final Phase of $120M Newport News Redevelopment

by Lynn Peisner June 25, 2026

NEWPORT NEWS, VA. — Construction has begun on the fifth and final phase of the Marshall-Ridley Choice Neighborhood Initiative (CNI) in Newport News. Ridley Place was public housing originally built in 1954 on approximately 18 acres. That community is now being replaced through the CNI, which is a HUD-backed redevelopment plan focused on mixed-income housing, resident services and broader neighborhood investment. Across the phases, Marshall-Ridley CNI leaders leveraged more than $120 million in housing investment. Pennrose’s Phase V, located at 2815 Washington Ave., will add 73 mixed-income units, amenities and …

June 25, 2026

Development News Southeast Virginia

Bonaventure Breaks Ground on $74.5M Project in Chesapeake, Virginia

by Lynn Peisner June 19, 2026

CHESAPEAKE, VA. — Bonaventure has broken ground on Attain at Greenbrier, a 268-unit community in Chesapeake’s Greenbrier submarket. The $74.5 million development is part of the Alexandria, Virginia-based investment and development firm’s Attain portfolio. Delivery is slated for late 2027. The site, previously home to a commercial call center, was acquired and rezoned by Bonaventure in 2022. The Greenbrier community will consist of three four-story buildings containing a mix of one-, two- and three-bedroom units averaging 1,037 square feet. Marlyn Development Corp. is serving as the general contractor, RBA is …

June 19, 2026

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