Conserve Holdings Acquires Multifamily Asset From Maddox & Son Construction For $39.85M

The property asset involved in this transaction is a multifamily building located at 1047 East Lawn Drive in Forest, VA. The sale price of the property was $39,850,000, encompassing a total of 216 units. The total square footage of the asset is 282,504, with a price per unit of $184,491 and a price per square foot of $141.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $39,850,000
• Units: 216
• Square Feet: 282,504
• Price Per Unit: $184,491
• Price Per Square Foot: $141
• Buyer: Conserve Holdings
• Seller: Maddox & Son Construction
• Buyer's Representative: Jonathan Brody, Ari Sokol & Michael Schattner - Base Realty Group

The transaction was facilitated by Jonathan Brody, Ari Sokol, and Michael Schattner who represented the buyer, Conserve Holdings, in this deal, ensuring a smooth exchange between the involved parties and completing the sale on November 25, 2025.