The Courthouse Green Townhomes, a 266-unit market-rate complex located near the county government center in Chesterfield, Virginia, has been sold for $50.9 million to Jones Street Investment Partners. This marks the fourth change of ownership in just nine years and showcases the dynamic nature of the real estate market.
Previously owned by a joint venture between McCann Realty Partners and LEM Capital, who purchased it for $33 million in 2020 from RailField Realty Partners (a Maryland firm), this latest sale highlights an upward trend in property value. In 2017, RailField acquired Courthouse Green for $25 million after it was sold by Brookfield Corp., a Canadian conglomerate division that had bought it for $23 million back in 2014.
Situated on approximately 21 acres southeast of Chesterfield County Airport, Courthouse Green consists of thirty-four buildings constructed fifty years ago. The recent transaction is yet another example of how rapidly properties can change hands within this ever-evolving industry.
