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Washington DC & Mid-Atlantic  + Virginia  + Apartments  |  September 4, 2026
Jasmine Kilman
By: Jasmine Kilman

Castle Lanterra Completes Sale of 224-Unit Residential Property in Suffolk

Castle Lanterra announced the sale of Meridian Obici, a 224-unit multifamily community located in Suffolk, Virginia, within the Hampton Roads metropolitan area.

Completed in 2016, Meridian Obici is a highly amenitized multifamily community featuring a resort-style saltwater swimming pool, fitness and business centers, resident entertainment spaces, outdoor kitchens, detached garages, storage units, and a dog park. The property is situated along Suffolk’s North Main Street corridor, providing residents with convenient access to retail, dining, and essential services.

CL acquired Meridian Obici in October 2018 for approximately $32 million, or $143,000 per unit, which allowed the company to own a recently constructed, stabilized asset at an attractive basis within one of Virginia’s fastest-growing regional economies.
The property provides connectivity to major employment hubs throughout Newport News, Norfolk, Virginia Beach, and the surrounding metropolitan area.

Stay ahead of the multifamily market at Connect Apartments. Gain firsthand insights from industry leaders on capital markets, development, operations, financing, and investment trends while expanding your network with the people making deals happen. See you on September 22!

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Castle Lanterra

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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