Berkadia Arranges Sale of Affordable Housing Property in Virginia
Berkadia has arranged the sale of Rio Hill Apartments, a 139-unit multifamily community located in Charlottesville, Virginia.
Senior Managing Director Drew White, Managing Director Carter Wood, Senior Director Matt Straughan and Director Cole Carns of Berkadia Richmond, along with Senior Managing Director Brandon Grisham and Senior Director Jordan Skyles of Berkadia Affordable Housing, arranged the sale on behalf of the seller, Amurcon Realty Company. Palatine Capital Partners of Miami, Florida, acquired the property.
“Rio Hill Apartments presented a compelling opportunity to acquire a well-performing affordable housing community,” said Wood. “With strong leasing momentum and consistent occupancy, the property is well-positioned to benefit from continued demand for quality multifamily housing in the Charlottesville market.”
Located at 1610 Rio Hill Drive, Rio Hill Apartments is a three-story, garden-style multifamily community built in 1995. The property offers two- and three-bedroom apartment homes. Rio Hill Apartments is strategically located along Route 29, providing direct access to Charlottesville’s primary employment and lifestyle hubs, including the University of Virginia, UVA Health System, and the National Ground Intelligence Center.
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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
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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