Broad Street Realty Drops $122M on Student Housing Mixed-Use in Williamsburg
Bethesda, MD-based Broad Street Realty, Inc., has acquired Midtown Row in Williamsburg, VA for $122 million. The mixed-use property is a recently completed development comprised of 240 student housing units with 620 beds and a retail component of 63,573 square feet of gross leasable area.
The acquisition is subject to customary closing conditions and is expected to finalize by the end of the second quarter of 2022.
“We are proud to further solidify our commitment to Midtown Row and the Williamsburg region with this acquisition,” said Michael Jacoby, chairman of the board of directors and CEO of Broad Street Realty, Inc. “We have served as the development manager for Midtown Row and serve as the property manager and the leasing broker for the retail portion as well so this is truly a natural evolution.”
Midtown Row is Broad Street Realty, Inc.’s fifth active property in VA and sixteenth within the overall portfolio.
Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group.
When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.