FPA Multifamily Acquires Multifamily Asset In Newport News For $56.3 Million
$56,300,000
$170/SF
Building Size
329,810 SF
Asset Type
MultiFamily
Closing
Feb 8, 2026
AI
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.
Players
Market 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
0.28%
Cash-on-Cash
-0.08%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93