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Washington DC & Mid-Atlantic  + DC Metro  + Apartments  |  August 8, 2022
PRG Real Estate has acquired The Lafayette residential tower in Norfolk, VA.
Lisa McDuffie
By: Lisa McDuffie

PRG Real Estate Purchases The Lafayette Residential Tower in Norfolk

Philadephia, PA-based PRG Real Estate has acquired The Lafayette, a 168-unit riverfront residential community in Norfolk, VA.

G.S. (Hank) Hankins, Victoria Pickett, Charles Wentworth and Garrison Gore with Colliers represented the sellers, Graycliff Capital Partners and Buligo Capital Partners, in the transaction.

The acquisition of The Lafayette, marks PRG’s seventh apartment investment overall in the Hampton Roads submarket. The new owners will capitalize on additional rent growth by continuing the value-add program targeted at upgrading remaining unit interiors at The Lafayette.

The Lafayette has views of the Norfolk skyline and upgraded amenities and common areas. it is convenient to employers along with the retail and entertainment options in downtown Norfolk.

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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.
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