Blackfin Real Estate & GMF Capital Sell Virginia Beach Multifamily For $98.5M

631 Lake Edward Dr, Virginia Beach, VA, USA

$98,500,000

$74,564/SF

Building Size

1,321 SF

Asset Type

MultiFamily

Closing

Nov 18, 2021

AI

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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