Colorado CRE Companies Swap Ownership of Richmond Community
Denver, CO-based Highlands Vista Group has purchased Laurel Pines Apartments, a 120-unit garden-style multifamily property located in Richmond, VA.
Drew White, Carter Wood and Cole Carns of Berkadia represented the seller, Louisville, CO-based real estate investment firm Four Mile Capital. Matt Schildwachter also of Berkadia secured permanent acquisition financing on behalf of Highlands Vista Group, a multifamily investment company. The 10-year fixed-rate loan was financed through Freddie Mac.
“Operationally, the strong lease trade-outs showed Highland Vista Group the longer-term promise of this asset in arguably the best pocket of the submarket that is walkable to top notch retail,” said White.
Laurel Pines Apartments sits at 4123 East Wood Harbor Court and features one-, two- and three-bedroom floor plans. Community amenities include swimming pool, clubhouse, fitness center, laundry facilities and playground. The property is convenient to Virginia Commonwealth University, Richmond International Airport and the shops and restaurants near Interstate 64 and S Laburnum Avenue.