FPA Multifamily Acquires Multifamily Asset In Newport News For $56.3 Million
SOLD
$56,300,000
Virginia
See Similar DealsMultiFamily329,810 SF
Sold 02/08/2026
SOLD
FPA Multifamily Acquires Multifamily Asset In Newport News For $56.3 Million
MultiFamily329,810 SF
Sold 02/08/2026
Summary
Asset Type:MultiFamily
Price Per Square Foot:$170
Total Square Footage:329,810 SF
Transaction Type:Sale
This transaction involves a multifamily asset located in Newport News, VA, consisting of 384 units. The property was sold for $56,300,000, with a price per unit of $146,614 and a total square footage of 329,810, translating to a price per square foot of $170.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $56,300,000
- Units: 384
- Price Per Unit: $146,614
- Total Square Footage: 329,810
- Price Per Square Foot: $170
- Buyer: FPA Multifamily
- Brokers: David Wildes & Aaron Jungreis - Rosewood Realty Group
- Date of Transaction: 2/9/2026
- Market: Newport News, VA
David Wildes and Aaron Jungreis represented the buyer, FPA Multifamily, in this transaction. The involvement of Rosewood Realty Group as the brokerage firm played a key role in facilitating the sale of this multifamily asset.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$3,002,666.66
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$200,022.02
Cash-on-Cash Return-1.27%
Monthly Debt Service$266,890.72
Annual Debt Service$3,202,688.68
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