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Washington DC & Mid-Atlantic  + Virginia  + Apartments  |  December 20, 2024
Jasmine Kilman
By: Jasmine Kilman

Berkadia Completes Sale of Newport News MF

Berkadia has completed the sale of Forest Lake at Oyster Point, a 296-unit multifamily property in Newport News, Virginia.

Berkadia 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, Nebraska-based Haley Residential. The property was acquired by Richmond-based, Levco Management.

“The Levco team has successfully added a valuable asset to their expanding portfolio, thanks to the expert management of Haley Residential,” said Wood. The Newport News market continues to demonstrate its strength for apartment owners, with an even brighter outlook following the anticipated arrival of several thousand new jobs in the near future.”

307 Saint Thomas Drive is strategically located along Jefferson Avenue, minutes away from Jefferson Lab and Riverside Regional Medical Center. Forest Lake at Oyster Point is 1.4 miles from the City Center at Oyster Point business district, a 52-acre, mixed-use development.

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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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