Source: ROSS Companies / #Apartments #Multifamily
RICHMOND, VA - ROSS Companies, a leader in multifamily acquisitions, property management and renovation, announced it has acquired Hampstead Apartments, a 98-unit community in Richmond, VA.
ROSS Companies has begun to employ a $3MM repositioning and rebranding program for the community, which includes renovating the apartments in an effort to meet consumer desires for new contemporary housing in a popular, convenient location.
Hampstead Apartments (which will be rebranded under a new name) is nestled in a newly developed section of Richmond called Libbie Mill – Midtown. Libbie Mill – Midtown is an 80-acre mixed-use space offering retail, restaurants, offices, trails, and a world-class library.
"Given its prime location, Hampstead Apartments is an exciting investment opportunity for us" said Dave Miskovich, CEO of ROSS Companies. "We believe the extensive capital improvements program that we will be undergoing will put Hampstead Apartments directly in line with the demands of today's savvy apartment consumer, who are seeking sophisticated, highly functional apartments."
This 98-unit community consists of 2-bedroom apartments. Renovation will include creating an open living, dining, kitchen concept, installing luxury plank flooring, and completely new kitchens and bathrooms. There will also be wide-spread exterior upgrades to the building fascia, landscaping and signage.