Washington DC + Apartments | January 22, 2021

NorthMarq Arranges $167M Sale of Virginia MF Portfolio

NorthMarq’s Richmond office has arranged the $167 million sale of the Waverton Virginia Portfolio, a 1,063-unit multifamily portfolio in Virginia.

The four-property portfolio is located in the Richmond and Hampton Roads markets of Virginia. The portfolio consists of Meridian Watermark, a 300-unit community located at 6500 Caymus Way in Richmond; Impressions I, II, & III, a 414-unit community located at 501 Coral Key Place in Newport News; Denbigh Village, a 244-unit community located at 14332 Deloice Crescent in Newport News and Marina Villa, a 105-unit community located at 8150 Shore Drive in Norfolk.

Mike Marshall, Wink Ewing and Ryan Rilee of NorthMarq represented the seller, Portsmouth-based developer Waverton Associates, in the transaction. The buyer was a large regional investor.

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About David Cohen

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.

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