Updated Apr 8, 2026
Palatine Capital Partners Acquires Rio Hill Apartments From Amurcon Realty For $26.6 Million
1610 Rio Hill Drive
$26,600,000
Units
139
Asset Type
MultiFamily
Closing
Apr 7, 2026
About this deal
AI
The property asset involved in this transaction is a 139-unit affordable housing community located at 1610 Rio Hill Drive in Charlottesville, VA. The transaction was finalized at a sale price of $26,600,000, translating to a per unit price of $191,367.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $26,600,000
- Units: 139
- Price per Unit: $191,367
- Buyer: Palatine Capital Partners
- Seller: Amurcon Realty Co
- Brokerage: Berkadia
- Brokers Involved: Drew White, Carter Wood, Cole Carns, Brandon Grisham, Jordan Skyles & Matt Straughan
This transaction was arranged by Berkadia, successfully facilitating the sale of Rio Hill Apartments from Amurcon Realty Co. to Palatine Capital Partners.
On the Map
$26,600,000
MultiFamily
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Players
Charlottesville MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.60%
Cash-on-Cash
-0.17%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93