Concordia Properties Acquires Multifamily Property In Hampton, Virginia For $26.5M

The multifamily property located at 1601 Penwood Dr. in Hampton, Virginia has been sold for a price of $26,500,000. The transaction took place on December 21, 2021, and the property spans across 200,000 square feet. The sale price per square foot was calculated at $132. The buyer of the property was Concordia Properties, and they acquired it from the seller, Cyclone Group. The deal was facilitated by brokers Steven Vegh and Phil Goldstein from Westwood Realty Associates.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $26,500,000
• Address: 1601 Penwood Dr.
• Market: Hampton, Virginia
• Buyer: Concordia Properties
• Seller: Cyclone Group
• Brokers: Steven Vegh & Phil Goldstein - Westwood Realty Associates

The involvement of Steven Vegh and Phil Goldstein from Westwood Realty Associates was instrumental in facilitating the transaction. Their expertise and representation ensured a successful deal between Concordia Properties and Cyclone Group.