Berkadia Arranges $18M Sale of Virginia Townhome Community
Berkadia has arranged the $17.7 million sale of Ivy Gates, a multifamily townhome community located in Petersburg, Virginia, approximately 30 minutes south of Richmond.
Senior Managing Director Drew White, Managing Director Carter Wood, Senior Director Matt Straughan and Director Cole Carns of Berkadia Richmond arranged the sale on behalf of the seller, Greencove Group of Lakewood, New Jersey. CCM, an investment company in Sterling, Virginia, acquired the property, and SYM Properties of Herndon, Virginia, is managing the property.
“Ivy Gates represented a compelling off-market opportunity to acquire a well-located townhome community featuring some of the largest floor plans in the submarket and strong renter appeal,” said Carns.
Located at 101 Ivy Lane, Ivy Gates features two- and three-bedroom tri-level townhome apartments. Ivy Gates is conveniently located near Interstate 95 and Interstate 85, as well as U.S. Route 460 and U.S. Route 301, providing direct access to Petersburg’s primary employment hubs.
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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