11-13-20

M id A tlantic Real Estate Journal — November 13 - December 10, 2020 — 11A

www.marej.com

M id A tlantic R eal E state J ournal Thalhimer Realty Partners purchases Riverpoint Court Colliers Int’l. announces sale of 112 unit Virginia property

S U B M I T T O M A R E J P E O P L E O N T H E M O V E

D

VIRGINIA BEACH, VA — G.S. (Hank) Hankins , senior vice

president; Victoria Pickett , first vice president; Charles Wentworth , senior vice presi- dent; Will Mathews , manag - ing director; Clay Ellis , as- sociate; and Garrison Gore , associate, with the Colliers National Multifamily Advi- sory Group represented the seller in two separate Virginia Beach transactions. In the first transaction B&W Properties sold Carolanne Terrace, a multifamily com - munity to MRKT Capital . The community includes 112 spacious two-bedroom, two- bathroom floorplans equipped with stackable washers and dryers. Historically well oc- cupied and often with a ten- ant waiting list, Carolanne Terrace has tremendous room for revenue growth through a strategic value-add program. The property is located at 5528 Carolanne Terrace in Virginia Beach between the Virginia Beach Town Center and downtown Norfolk offer- ing convenient access to major employers and the region’s top retail. In the second transaction,

Carolanne Terrace

Riverpoint Court

F E A T U R E : N E W L O C A T I O N S M I L E S T O N E S E V E N T S R E C E N T A W A R D S P R O M O T I O N S N E W H I R E S

Riverpoint Granby, LLC sold Riverpoint Court, a 32-unit multifamily development, from to Thalhimer Realty Partners . Constructed in 1945 to offer housing and education space for hospital staff, Riverpoint Court is located along bustling

Granby St. adjacent to Bon Secours DePaul Medical Cen- ter. The two-story property underwent significant resto - ration and redevelopment in 2008 providing spacious floor - plans and modern amenities while maintaining its historic charm. MAREJ

KA� PROPERTIES & INVESTMENTS LLC CONSIDERING SELLING YOUR INVESTMENT PROPERm CONSIDERING A 1031 EXCHANGE?

ASK US ABOUT

� 1031 Exchange Solutions � Preferred Return Investment Opportunities

� Passive Investment O P. portunities - No More Tenants Toilets and Trash! � Delaware Statutory Trust (DST) Properties � Triple Net Leased (NNNJ Properties � 721 Exchange UPREIT Properties - How'° 1031 Exchange Into a Real Estate lnvestmentTrust(REfO � Opportunity Zones � Real Estate Investing Seminars and Workshops

This material does not constitute an offer to sell nor a solicitation of an offer to buy any security. Such offers can be made only by the confidential Private Placement Memorandum (the "Memorandum"). Please read the entire Memorandum paying special attention to the risk section prior investing. IRC Section1031, IRC Section1033 and IRC Section 721 are complex tax codes therefore you should consult your tax and legal professional for details regarding your situation. This material is not intended as tax or legal advice. There are material risks associated with investing in real estate, Delaware Statutory Trust (DSD properties and real estate securities including illiquidity, tenant vacancies, general market conditions and competition, lack of operating history, interest rate risks, the risk of new supply coming to market and softening rental rates, general risks of owning/operating commercial and multifamily properties, short term leases associated with multi-family properties, financing risks, potential adverse tax consequences, general economic risks, development risks and long hold periods. There is a risk of loss of the entire investment principal. Past performance is not a guarantee of future results. Potential cash flow, potential returns and potential appreciation are not guaranteed. Securities offered through G rowth Capital Services member FINR A , SIPC O ffice of Supervisory J urisdiction located at 58 2 Market Street, Suite 300, San Francisco, C A 94 10 4 . Preferred return is not guaranteed, and subject to available cash flow. LEARN MORE AT @www.kpi1031.com or \.1.855.899.4597

Made with FlippingBook - Online catalogs