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FPA Multifamily, LLC has acquired Marina Shore Apartment Homes in Virginia Beach, VA, for $101.9 million.

FPA Multifamily Shells Out $102M for Virginia Beach Community

San Francisco, CA-based FPA Multifamily, LLC has acquired Marina Shore Apartment Homes, a 392-unit multifamily property located at 257 Willow Oak Circle in Virginia Beach, VA, for $101.9 million.

Jorge Rosa and TJ Liberto with global real estate services firm Cushman & Wakefield partnered with NAI Global to represent the seller in the sale to FPA Multifamily, LLC, a real estate operating company that facilitates apartment acquisitions, dispositions and asset management for its institutional investors.

The 378,905-square-foot property consists of a mix of one-bedroom, two-bedroom and three-bedroom units with in-unit laundry. Amenities include a saltwater swimming pool, fitness center, resident clubhouse and kitchen, two fully fenced on-site dog parks, outdoor grilling and lounge area, tennis court and covered parking.

The property is located in proximity to the Virginia Beach oceanfront as well as Interstates 64 and 264, allowing for convenient access to the surrounding neighborhoods.


Inside The Story

Cushman & Wakefield's Rosa

About Lisa McDuffie

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.