Updated Nov 4, 2026
Zach Solomon Of Solomon Organization Purchases 748-Unit Multifamily Portfolio In Richmond For $143M
9475 West Broad Street & 1500 Honey Grove Drive
$143,000,000
Units
748
Asset Type
MultiFamily
Closing
Nov 3, 2026
About this deal
AI
A 748-unit multi-family apartment portfolio, located at 9475 West Broad Street and 1500 Honey Grove Drive in Richmond, Virginia, was sold for $143 million. This represents a price per unit of $191,176, contributing to the expansion of the buyer's real estate interests outside New Jersey.
Summary of transaction details:
- Property Type: MultiFamily
- Transaction Amount: $143,000,000
- Buyer: Zach Solomon
- Company: Solomon Organization
- Units: 748
- Market: Richmond, VA
Zach Solomon, representing the Solomon Organization, is noted for this strategic acquisition as part of their efforts to diversify and expand portfolio in different markets, marking a significant movement into the Richmond area.
On the Map
$143,000,000
MultiFamily
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Henrico MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Sale transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.11%
Cash-on-Cash
-0.03%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93