Berkadia, a leading real estate investment and services firm, has successfully sold Forest Lake at Oyster Point in Newport News, Virginia. The 296-unit multifamily property was acquired by Levco Management of Richmond and was previously owned by Haley Residential of Nebraska.
The sale was facilitated by Berkadia Senior Managing Director Drew White from the DC Metro office, along with Managing Director Carter Wood from the Norfolk office and Director Cole Carns from the Richmond office. According to Wood, “The Levco team has made a smart addition to their growing portfolio thanks to Haley Residential’s excellent management.” He also noted that Newport News is a strong market for apartment owners and is expected to see even more growth with the arrival of thousands of new jobs in the near future.
Strategically located on Jefferson Avenue near Jefferson Lab and Riverside Regional Medical Center, 307 Saint Thomas Drive offers convenient access for residents. Additionally, Forest Lake at Oyster Point is only 1.4 miles away from City Center at Oyster Point business district – a thriving mixed-use development spanning over 52 acres.
