NORFOLK, VA - Colliers is pleased to announce the sale of two multifamily properties on behalf of Resource REIT in Hampton Roads.
Tech Center Square, 128 Jefferson Point Lane in Newport News, was sold from Resource REIT to Walde Management. The multifamily community was originally built in 1985 and includes 208 residential units. Situated near a Whole Foods anchored shopping center in the most highly trafficked corridor of the Peninsula, Tech Center Square offers tremendous long-term revenue potential. The property offers a generous mix of amenities including a fitness center, pool and entertainment area, dog park, sports court and clubhouse. Walde Management is planning a comprehensive renovation program for both unit interiors and common areas.
Pines of York, 3100 Hampton Highway in Yorktown, sold from Resource REIT to Riverpass Holdings. The community includes 248 residential units in a strategic location with top-rated schools and employment opportunities. Originally constructed in 1974, Pines of York offers large floorplans with tremendous value-add potential. The comprehensive mix of community amenities including a clubhouse, fitness center, pool with sundeck, tennis courts, business center and playgrounds in a mature tree-lined setting make Pines of York a top choice among renters.
G.S. (Hank) Hankins, executive vice president; Victoria Pickett, first vice president; Charles Wentworth, executive vice president; and Garrison Gore, assistant vice president, with Colliers Virginia Multifamily Team, represented the seller.
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