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Berkadia Closes Sale of Williamsburg Apartments

Berkadia arranged the $26.25-million sale of Regency at Longhill, a 224-unit garden-style multifamily property in Williamsburg, VA. Senior directors Alan Meetze and David Hudgins of Berkadia’s Newport News, VA office completed the sale on behalf of the seller, Virginia-based Philip Richardson Company, Inc. The buyer was Regency at Longhill Apartments LLC.

“Regency is an extremely well-located property that has been owner operated since development,” said Hudgins. “It provides a value-add play based on the sought-after ‘B in an A location’ formula. A critical component to the deal was the VHDA debt, and our team was able to provide a solution that served all parties.”

Located at 5302 Lane Place Dr., Regency at Longhill features one, two and three-bedroom floor plans with walk-in closets. Community amenities include a swimming pool, a playground, a clubhouse and an outdoor area with grilling stations.

For comments, questions or concerns, please contact Paul Bubny

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Sale/Acquisition
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