Frontier Group Of Companies Acquires 310-Unit Multifamily Property In Midlothian For $108 Million

The property asset involved in this transaction is Bainbridge Midlothian, a 310-unit Class A apartment community located at 12400 Dutton Road in Midlothian, Virginia. The sale price for this multifamily asset amounted to $108,000,000, spanning an area of 25.8 acres. The price per unit was recorded at $348,387, and this represents Richmond’s highest price per unit for a market-rate multifamily asset in 2026 to date.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $108,000,000
• Address: 12400 Dutton Rd
• Market: Midlothian, VA
• Units: 310
• Price Per Unit: $348,387
• Acres: 25.8
• Buyer: Frontier Group of Companies
• Seller: The Bainbridge Companies & BVT National Partners
• Brokers: Garrison Gore, Charles Wentworth & Victoria Pickett - Newmark

This transaction marks Frontier Group of Companies' first multifamily acquisition in the state of Virginia. The sale was arranged by Newmark, highlighting the collaboration in executing this project, which involves a property that was built in 2024.