Linden Property Group & Navy Squared Partners Acquire Multifamily In Newport News, VA For $32M

The multifamily property located at 400 Cox Landing in Newport News, VA has been sold and financed through a loan. The property consists of 256 units, with a per unit price of $125,000. The transaction was completed on September 28, 2022, with a sale price of $32,000,000. The buyer of the property was Linden Property Group and Navy Squared Partners, while the seller was Stoneybrook & Associates LLC. The brokerage firm involved in the deal was Berkadia. The lender for the transaction was Sandy Spring Bank of Olney, providing a loan amount of $27,800,000.

Summary of transation details

• Property Type: Multifamily
• Transaction Amount: $32,000,000
• Address: 400 Cox Landing, Newport News, VA
• Market: Newport News, VA
• Buyer: Linden Property Group & Navy Squared Partners
• Seller: Stoneybrook & Associates LLC
• Broker: Berkadia
• Lender: Sandy Spring Bank of Olney
• Loan Amount: $27,800,000
• Units: 256
• Price Per Unit (PPU): $125,000

The sale and loan transaction of the multifamily property at 400 Cox Landing involved key individuals and companies. The buyer was represented by Linden Property Group and Navy Squared Partners, while the seller was represented by Stoneybrook & Associates LLC. The brokerage firm Berkadia facilitated the deal. Sandy Spring Bank of Olney provided the loan for the transaction.