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

631 Lake Edward Drive
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This MultiFamily property located in VA was sold for $98,500,000 over 2 years ago. The brokers of the deal were Jared Alcorn, Matt Straughan, Michael "Mike" Marshall, and Wink Ewing

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:

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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Deals
  • Location
    631 Lake Edward Dr, Virginia Beach, VA, USA631 Lake Edward Dr, Virginia Beach, VA, USA
  • Sale Price
    $98,500,000$98,500,000
    $74,564 PPSF$74,564 PPSF
  • Area
    1,321 SF1,321 SF
  • Asset Type
    MultiFamilyMultiFamily
  • Parties
    4 Brokers, 1 Agency4 Brokers, 1 Agency

Agents

Wink Ewing

Wink Ewing

Deals4
Sold$203.1M

Matt Straughan

Matt Straughan

Deals4
Sold$203.1M

Jared Alcorn

Jared Alcorn

Deals2
Sold$125.8M

Agency

NorthMarq

NorthMarq

Agency
Deals467
Volume$21.6B

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Deal Summary

SALE IMAGE: Wink Ewing, Mike Marshall & Jared Alcorn DATE: 11/18/2021 ADDRESS: 631 Lake Edward Drive MARKET: Virginia Beach, Va ASSET TYPE: Multifamily SELLER: Blackfin Real Estate Investors & GMF Capital BROKERS: Wink Ewing, Mike Marshall, Matt Straughan & Jared Alcorn - NorthMarq SALE PRICE: $98,500,000 UNITS: 600 ~ PPU: $164,167

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631 Lake Edward Drive

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