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Berkadia Arranges Sale, Financing for Hampton Roads MF Properties
Berkadia has completed the sale and financing of three Peninsula properties totaling 1,461 units. The properties are garden and townhouse-style multifamily properties in Newport News and Hampton, Virginia.
Senior Managing Director Drew White of Berkadia DC Metro, Managing Director Carter Wood of Berkadia Norfolk, and Director Cole Carns of Berkadia Richmond represented the seller, Richmond-based Weinstein Properties. Senior Managing Director Richard Levine of Berkadia Atlanta secured financing through Freddie Mac on behalf of the buyer, Bethesda-based Acento Real Estate.
“Acento made a major entry into the Hampton Roads market, and we are confident they will leverage the market’s strong fundamentals to their advantage for years to come,” said Wood. The three properties are located at 70 Lakeshore Drive, 165 Kathann Drive, and 961 Marcus Drive, offering convenient access to the area’s Peninsula Town Center, a 991,000-square-foot mixed-use development.
