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Chesterfield Apartment Complex Sells for $51M
In a real estate deal that highlights the ever-evolving nature of the market, the Courthouse Green Townhomes in Chesterfield, Virginia, have changed hands for the fourth time in nine years. The 266-unit, market-rate complex, located near the county government center, was recently acquired by Jones Street Investment Partners, a Boston-based firm, for $50.9 million.
The complex had been owned by a joint venture between McCann Realty Partners and LEM Capital before this latest sale. They had purchased it for $33 million in 2020 from RailField Realty Partners, a Maryland firm, who acquired it for $25 million in 2017. Prior to that, in 2014, the property was sold to a division of the Canadian conglomerate Brookfield Corp. for $23 million.
Courthouse Green is situated on 21 acres southeast of the Chesterfield County Airport and comprises 34 buildings constructed 50 years ago.
- ◦Sale/Acquisition
