David Franjoine Of Frontier Group Of Companies Acquires Bainbridge Companies Multifamily Asset For $107.7M

A 310-unit luxury apartment community located at 12400 Dutton Rd in Midlothian, VA, has been sold in a significant real estate transaction. The sale, which concluded on 10/26/2026, was valued at $107,700,000, translating to a price per unit of $347,419. This transaction marks the highest price per unit for a market-rate multifamily asset in Richmond for the year 2026.

Summary of transaction details:

• Property Type: MultiFamily
• Transaction Amount: $107,700,000
• Buyer: David Franjoine - Frontier Group of Companies
• Seller: Bainbridge Companies
• Units: 310
• Price Per Unit: $347,419

David Franjoine, representing Frontier Group of Companies, acquired the property from Bainbridge Companies. This transaction exemplifies a notable shift in the market dynamics within the multifamily sector in Richmond, highlighting the increasing value of market-rate assets.