Blackfin Real Estate & GMF Capital Sell Virginia Beach Multifamily For $98.5M
631 Lake Edward Drive
1,321 SF
Summary
Located at 631 Lake Edward Drive in Virginia Beach, Va, this recently sold multifamily property offers a lucrative investment opportunity. The property consists of 600 units and was purchased for a total sale price of $98,500,000. With an average price per unit of $164,167, this transaction showcases the robust multifamily market in Virginia Beach.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $98,500,000
- Number of Units: 600
- Price Per Unit: $164,167
- Date: 11/18/2021
- Market: Virginia Beach, Va
- Seller: Blackfin Real Estate Investors & GMF Capital
- Brokers: Wink Ewing, Mike Marshall, Matt Straughan & Jared Alcorn - NorthMarq
The successful transaction was facilitated by a team of experienced brokers representing the seller. Wink Ewing, Mike Marshall, Matt Straughan, and Jared Alcorn from NorthMarq played a significant role in ensuring a smooth deal. Their expertise and industry knowledge contributed to the favorable outcome of this multifamily property sale.
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