FPA Multifamily Acquires Multifamily In Norfolk For $84M

The multifamily property located at 6450 Crescent Way in Norfolk, VA, was sold for $84,000,000. The asset comprises 400 units spread across 455,200 square feet, equating to a price per unit of $210,000 and a price per square foot of $185.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $84,000,000
• Units: 400
• Square Footage: 455,200
• Price Per Unit: $210,000
• Price Per Square Foot: $185
• Address: 6450 Crescent Way
• Market: Norfolk, VA
• Buyer: FPA Multifamily
• Seller: Croatan Investments & JSB Capital
• Brokers: David Wildes & Aaron Jungreis - Rosewood Realty Group

The sale transaction was facilitated by David Wildes and Aaron Jungreis from Rosewood Realty Group, representing the respective buyer and sellers, Croatan Investments & JSB Capital. The deal involved key individuals and companies in a significant acquisition within the multifamily real estate market.