June 18, 2020
Berkadia has arranged the $17 million sale of Brittany Place, a 148-unit garden-style apartment community in Norfolk, VA. Alan Meetze and David Hudgins of Berkadia’s Newport News office completed the sale on behalf of the seller, Virginia-based Affordable Housing Corp. The buyer was 6143 Edward Street LLC, also based in Virginia.
Built in 1985 and located at 6143 Edward St., Brittany Place features two-bedroom floor plans with large closets and in-unit washers and dryers. Amenities include laundry facilities and 24-hour emergency maintenance.
“Despite the challenges in recent times, we were able to complete the sale as scheduled,” said Meetze. “Brittany Place has been a very stable asset and the buyer stands to gain upside through interior upgrades as well as amenity enhancements. We were pleased to play a role in a transaction that was a win for both buyer and seller.”
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Tags: Apartments & Multifamily