Matt Frazier Buys Summit At Bon Air Apartments From Dwight Kay For $53.3M

The Summit at Bon Air Apartments, located at 1701 Irondale Road in Richmond, VA, was sold in a multifamily property transaction. The property consists of 296 units, with the buyer, Matt Frazier of Jones Street Investment Partners, acquiring it from the seller, Dwight Kay of Delaware Statutory Trust, for a total sale price of $53,300,000. The price per unit (PPU) was calculated at $180,068.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $53,300,000
• Units: 296
• Buyer: Matt Frazier - Jones Street Investment Partners
• Seller: Dwight Kay - Delaware Statutory Trust
• Address: 1701 Irondale Road
• Market: Richmond, VA

Matt Frazier from Jones Street Investment Partners took the initiative to purchase the Summit at Bon Air Apartments in Bon Air, Virginia, showcasing a significant investment in the multifamily property sector. On the other hand, Dwight Kay, representing Delaware Statutory Trust, facilitated the sale of the property, marking a successful transaction between both parties.