Newmark Arranges $108M Sale of 310-Unit Virginia Multifamily Community
Newmark has arranged the $108 million sale of Bainbridge Midlothian, a 310-unit multifamily community located in Midlothian, Virginia.
Frontier Group of Companies acquired the property from a joint venture between The Bainbridge Companies and BVT National Partners, marking the buyer’s first multifamily acquisition in Virginia.
“In today’s capital markets environment, the sale of Bainbridge Midlothian demonstrates that best-in-class product, built and operated at a high level, continues to command premium valuations,” said Jake Wright, President of Capital Markets at Bainbridge. Newmark Multifamily Capital Markets Senior Managing Director Garrison Gore led the transaction on behalf of the seller, alongside Executive Managing Directors Charles Wentworth and Victoria Pickett.
Completed in 2024, Bainbridge Midlothian is situated on approximately 25.8 acres at 12400 Dutton Road in Chesterfield County. The community comprises four residential buildings featuring a mix of studio, one-, two- and three-bedroom apartments. The property is surrounded by retail, dining and employment destinations, including Wegmans-anchored Stonehenge Village, Westchester Commons and Chesterfield Towne Center.
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Brokers
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
Lenders
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout