The transaction involved the sale of West Edge Apartments, a newly built multifamily community located at 200 W Edge Way, Lynchburg, VA, 24502. The property is situated on 22.7 acres and consists of 270 residential units. The property was sold for $68,900,000. The apartment layouts include one-, two-, and three-bedroom options. The community offers several amenities, such as a swimming pool, clubhouse/community center, fitness center, and laundry facilities. At the time of the sale, West Edge was reported to be 96 percent occupied.

Summary of transation details:

• Property Type: Multifamily Community
• Transaction Amount: $68,900,000
• Address: 200 W Edge Way, Lynchburg, VA, 24502
• Market: Lynchburg
• Seller's Representative: Eric Liebich - Capstone Companies
• Buyer: Southwood Realty
• Unit Count: 270
• Acreage: 22.7
• Occupancy Rate at Sale: 96%

Eric Liebich and Ron Corrao from Capstone Apartment Partners facilitated the off-market sale between the undisclosed seller and the buyer, Southwood Realty, based in Gastonia, N.C. The development of West Edge Apartments was completed earlier this year by an unnamed developer.