NEWPORT NEWS, Va. — June 17, 2020 — Berkadia today announced the $17 million sale of Brittany Place, a 148-unit garden-style market-rate property in Norfolk, Virginia. Senior Directors Alan Meetze and David Hudgins of Berkadia’s Newport News, Virginia office completed the sale on behalf of the seller, Virginia-based Affordable Housing Corporation. The buyer was 6143 Edward Street LLC, also based in Virginia, and the deal closed on June 11.
“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.”
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. Community amenities include laundry facilities and 24-hour emergency maintenance. The property affords immediate access to Interstate 64 and Norfolk International Airport.