Ashton Portfolio, VA | Sold by Berkadia 2022

September 1, 2022

Ashton Portfolio, VA | Sold by Berkadia 2022

September 1, 2022
32773

Berkadia Completes Sale of Multifamily Portfolio in Virginia

NORFOLK, Va. and WASHINGTON, D.C. – September 1, 2022 Berkadia announced today the sale of the Ashton Portfolio, a three-property multifamily portfolio located in Virginia. Senior Director Carter Wood of Berkadia Norfolk and Senior Managing Director Drew White of Berkadia DC Metro completed the sale on behalf of the seller, Virginia-based The Breeden Company. The buyer was Washington DC-based Cleghorn Capital, who closed on August 2.

“We are thrilled to have been a part of this transaction that yielded phenomenal results for both parties,” said Wood. “While the capital markets threw a curveball at us during the marketing process, both buyer and seller were able to work efficiently through the hurdles and execute with little interference.”

The three properties in this portfolio include:

Apex at Ashton Green is a 118-unit multifamily property located at 329 Boulder Drive in Newport News, Virginia. The property features two-bedroom floor plans with in-unit washers and dryers. Community amenities include a fitness center. The property affords residents convenient access to Newport News/Williamsburg International Airport, Newport News Golf Club at Deer Run and the shops and restaurants along Route 60.

Ashton Village is a 120-unit multifamily property located at 220 Chowan Drive in Portsmouth, Virginia. The property features one- and two-bedroom floor plans with in-unit washers and dryers. Community amenities include a fitness center. The property affords residents convenient access to Bide-A-Wee Golf Course and the shops and restaurants near Airline Boulevard.

Ashton at Oyster Point is a 132-unit multifamily property located at 802 Constance Drive in Newport News, Virginia. The property features one- and two-bedroom floor plans with in-unit washers and dryers and private patios or balconies. Community amenities include a swimming pool, a fitness center, a clubhouse and a business center. The property affords residents convenient access to Sandy Bottom Nature Park and the shops and restaurants near Interstate 64 and Route 17.