Cushman & Wakefield has arranged the $25-million sale of Hickory Point, a 175-unit multifamily property located at 399 Hickory Point Boulevard in Newport News, VA.

Jorge Rosa and TJ Liberto of Cushman & Wakefield represented the seller, New York, NY-based AION Partners multifamily real estate company, in the transaction.

“Hickory Point’s unparalleled access to employment, transportation and retail made this a rare value-add investment opportunity,” said Rosa. “These townhouse-style apartments are ideally located in one of the fast-growing and most desirable submarkets within the Hamptons Road region.”

The 175,600-square-foot property consists of 172 two-bedroom apartments and three three-bedroom apartments. Units feature private entrances, modern kitchen and bathrooms, built-in microwaves and washer and dryer connections. Amenities include a swimming pool and cabana.

The asset is located less than 15-minutes from Patrick Henry Mall and an array of retail, dining and entertainment options. The property is located near Interstate 64 and the Newport News/Williamsburg International Airport.