Berkadia, a leading real estate services and investment firm, has successfully completed the sale and financing of three multifamily properties in Newport News and Hampton, Virginia. The total number of units across these properties is 1,461.
The seller was represented by Senior Managing Director Drew White from Berkadia DC Metro, Managing Director Carter Wood from Berkadia Norfolk, and Director Cole Carns from Berkadia Richmond. The buyer was represented by Senior Managing Director Richard Levine from Berkadia Atlanta who secured financing through Freddie Mac on behalf of Bethesda-based Acento Real Estate.
Wood stated that Acento’s entry into the Hampton Roads market is significant and they are confident that they will benefit greatly from the strong fundamentals in this area for years to come. These three garden-style townhouse multifamily properties are located at 70 Lakeshore Drive,
165 Kathann Drive,and 961 Marcus Drive with easy access to Peninsula Town Center – a mixed-use development spanning over 991000 square feet.
In summary:
Berkadia recently sold three Peninsula properties totaling 1,461 units in Newport News and Hampton,Virginia. Represented by senior managing directors Drew White (DC Metro), Carter Wood (Norfolk),and Cole Carns (Richmond)of Berkshire Properties,the seller,Richmond-based Weinstein Properties,sold their property while senior managing director Richard Levine(Atlanta)secured financing through Freddie Mac for Bethesda-based Acento Real Estate,the buyer.”Acento’s entrance into the thriving Hampton Roads market shows great potential,”said Wood.The three multi-family homes located at70 Lakeshore Dr.,165 Kathann Dr.,and961 Marcus Dr.provide convenient access to Peninsula Town Center,a massive mixed-use development covering over991000 sq.ft.
