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Lynchburg Class A Multifamily Trades to Southwood Realty for $69M
Gastonia, NC-based Southwood Realty has acquired West Edge Apartments, a 270-unit, Class A community in Lynchburg, VA for $68.9 million. The property was 96% occupied at the time of the sale.
Eric Liebich and Ron Corrao of Capstone Apartment Partners facilitated the off-market transaction. Southwood Realty acquired the asset free and clear following lease-up.
Capstone has now assisted Southwood in three VA multifamily purchase over the last 18 month. According to Capstone, the acquisition allows Southwood to further obtain economies of scale and operational efficiencies in the local submarket.
West Edge Apartments was completed in 2022. The asset is situated on 22.70 acres and sits within close proximity to retail and commercial services as well as the University of Lynchburg, Liberty University and the Lynchburg Regional Airport. Community amenities include pool, a clubhouse/community center, fitness center and laundry facilities.
- ◦Sale/Acquisition
