Edge MF Brokers $45M Sale of Charlottesville Apartment Community
The Edge Multifamily Capital Markets Group has brokered the $44.9 million sale of Barracks West, a 324-unit multifamily community in Charlottesville, VA.
Located at 255 Saponi Lane, the asset was approximately 96% leased at the time of sale. The property underwent a series of value-add improvements beginning in 2012 by the previous owner and seller, Maryland-based The Goldstar Group. The capital expenditures included the addition of modern appliances, replacement of flooring and improvements to the community clubhouse and common areas.
Rawles Wilcox, Jared Emery and Ryan Ogden of Edge Multifamily Group represented the Goldstar Group in the off-market transaction. The buyer was Reston, VA.-based Willow Creek Partners.
David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector.
Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA.
David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.
CRE courses for CE credits
Get CE course credits, centered around all things CRE. View our courses today!