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Infinity Apartment Homes in Arlington, Virginia
Investment SalesNewsSoutheastVirginia

Shoreham Capital Acquires Infinity Apartment Homes in Arlington, Virginia, for $51 Million

by Channing Hamilton

ARLINGTON, VA. — Shoreham Capital has purchased Infinity Apartment Homes, a 227-unit property in Arlington, for $51 million. Infinity Apartment Homes offers a mix of studio, one-, two- and three-bedroom units. Amenities include a pool, fitness center, lounge, bike storage, package lockers and business center. The community is located within the Columbia Pike Corridor near Amazon’s HQ2 project. Robert Dean and Jonathan Greenberg of Institutional Property Advisors (IPA), a division of Marcus & Millichap, represented the undisclosed seller in the deal. Cameron Chalfant and Tyler Johnson of IPA arranged a …

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Maple Bay Townhomes in Virginia Beach, Virginia
Investment SalesNewsSoutheastVirginia

Hamilton Zanze Sells 414-Unit Maple Bay Townhomes in Virginia Beach, Virginia

by Channing Hamilton

VIRGINIA BEACH, VA. — Hamilton Zanze has sold Maple Bay Townhomes, a 414-unit asset situated at 356 S Chesire Court in Virginia Beach, a coastal city located about 18 miles east of Norfolk, Virginia. The firm sponsored the acquisition of the property in 2019. The buyer and sales price were not disclosed. Maple Bay was built in 1971. The property offers one-, two- and three-bedroom townhomes ranging from 1,000 to 1,400 square feet. Community amenities include a pool and spa, splash pad, clubhouse, fitness room, dog park, car wash station, …

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FinanceNewsSoutheastVirginia

Walker & Dunlop Arranges $24.3 Million Financing for ZeroPak Apartments in Winchester, Virginia

by Channing Hamilton

WINCHESTER, VA. — Walker & Dunlop has negotiated $24.3 million in federal Low-Income Housing Tax Credit (LIHTC) and Federal Historic Tax Credit (FHTC) equity for ZeroPak Apartments, a property located on 3.7 acres at 536 N Cameron St. in Winchester. ZeroPak Apartments is the adaptive reuse of a cold storage warehouse, which was originally built in 1902. The property now consists of one building with six designated sub-sections. Don Snyder and the Walker & Dunlop Affordable Equity team arranged the equity on behalf of the borrower, Zeropak Development LLC. Erick …

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FinanceNewsNortheastOperationsSoutheastVirginiaWashington, D.C.

Fannie Mae, Freddie Mac to Tighten Commercial Real Estate Lending Rules 

by Channing Hamilton

WASHINGTON, D.C. AND MCLEAN, VA. — Mortgage financing firms Fannie Mae and Freddie Mac plan to impose stricter rules for commercial property lenders and brokers, according to a report from the Wall Street Journal. The new guidelines are part of an emerging regulatory crackdown on fraud. Federal prosecutors and investigators have been increasingly pursuing fraudulent mortgage schemes since 2022. The rules may come into effect later this summer. Under the new rules, lenders would have to “independently verify” the financial information of potential borrowers and verify their source of funds …

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2001 East Apartments in Richmond, Virginia
Leasing & MarketingNewsSoutheastVirginia

TMF Awarded Management of Six-Property Portfolio in Metro Richmond, Virginia

by Channing Hamilton

RICHMOND AND PETERSBURG, VA. — Mercer Street Partners has selected Thalhimer Multifamily (TMF) to manage a portfolio of six properties in the Richmond metropolitan area. The portfolio totals over 680 units and will add 25 new associates to TMF’s portfolio. The properties are a mix of mid-rise and garden-style.  The portfolio includes:

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Live Oaks Village in Virginia Beach, Virginia
Investment SalesNewsSoutheastVirginia

SLN Capital Markets Brokers $12.2 Million Sale of Live Oaks Village in Virginia Beach, Virginia

by Channing Hamilton

VIRGINIA BEACH, VA. — SLN Capital Markets, a division of S.L. Nusbaum Realty Co., has arranged the sale of Live Oaks Village, a 32-unit asset in Virginia Beach. Live Oaks Village offers three-bedroom, townhome-style apartments. Lasgo Inc. purchased the property from BBD Holdings LLC for $12.2 million. Doug Aronson and Nathan Shor of SLN Capital Markets negotiated the deal. The seller was finishing up renovations to the property at the time of the sale, according to SLN Capital Markets.

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An unnamed conversion project by Carr Properties in Alexandria, Virginia
DevelopmentNewsSoutheastVirginia

Carr Properties Plans 234-Unit Office-to-Multifamily Conversion in Alexandria, Virginia

by Channing Hamilton

ALEXANDRIA, VA. — Carr Properties has acquired a vacant office building located at 901 N. Pitt Street in the Old Town neighborhood of Alexandria. The buyer plans to convert the asset into a 250,000-square-foot community. The development team for the project includes SK+I Architecture, as well as interior design firm Edit Lab by Streetsense. The community will offer 234 apartments in studio through three-bedroom layouts, a portion of which will be set aside as affordable housing. The property will also feature below-grade parking, 15,800 square feet of outdoor space, a …

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Mason at Van Dorn in Alexandria, Virginia
BerkadiaFinanceInvestment SalesNewsSoutheastVirginia

Berkadia Provides $157 Million in Acquisition Financing for Mason at Van Dorn Apartments in Alexandria, Virginia

by Channing Hamilton

ALEXANDRIA, VA. — Berkadia has provided a $157 million Fannie Mae acquisition loan for Mason at Van Dorn, a 1,180-unit community in Alexandria. The borrower and purchaser was a partnership between Shoreham Capital and Bridge Investment Group. The seller was CIM Group, which acquired the asset in 2017. Walter Coker, Brian Crivella, Yalda Ghamarian and Bill Gribbin of Berkadia originated the financing on behalf of the buyers. Mason at Van Dorn was originally built in 1972. The complex consists of 14 buildings on a 30-acre site. Amenities include two pools, …

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Effingham Green Condos in Portsmouth, Virginia
Investment SalesNewsSoutheastVirginia

Marcus & Millichap Brokers $2.4 Million Sale of 17-Unit Complex in Portsmouth, Virginia

by Channing Hamilton

PORTSMOUTH, VA. — Marcus & Millichap has brokered the sale of Effingham Green Condos, a 17-unit property in Portsmouth. Nouveux Effingham LLC purchased the community from Capps Equity LLC for $2.4 million. Justin Ferguson, Altay Uzun, Theo Jolley and Jack Carroll of Marcus & Millichap marketed the property on behalf of the seller and procured the buyer. Situated at 1007 Green Street, Effingham Green Condos was built in 1987 on a two-acre site. The property features 17 two-bedroom units across two buildings.

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Affordable HousingDevelopmentNewsSoutheastVirginia

Standard Communities Breaks Ground on 240-Unit Affordable Housing Community in Woodbridge, Virginia

by Channing Hamilton

WOODBRIDGE, VA. — Standard Communities has broken ground on Jefferson Plaza Apartments, a 240-unit affordable housing community in Woodbridge, in Northern Virginia’s Prince William County. The property will be income-restricted to tenants earning 60 percent of the area median income. Planned amenities include 354 parking spaces for residents, a 3,000-square-foot clubroom, co-working space, fitness center, bike storage, playground, green space and a dog park. The development, which is capitalized at $67.5 million, was funded from sources including Virginia Housing, Freddie Mac and Hudson Housing Capital.

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