WASHINGTON D.C. – May 3, 2019 – Berkadia announced today the $68.65 million sale of Maple Bay Townhomes, a multifamily property in Virginia Beach, Virginia. Senior Directors Jeff Coles, Alan Meetze and David Hudgins of Berkadia’s Mid-Atlantic Investment Sales Group completed the sale on behalf of the seller. The buyer was San Francisco-based Hamilton Zanze & Company, and the deal closed on January 28.
“The sale of Maple Bay Townhomes supports current investment capital’s belief in the underlying economics of Virginia Beach and the Hamptons Roads area overall,” said Coles. “The surrounding submarkets are regarded as one of the few markets within the Mid-Atlantic where a true premium to yield can be achieved.”
Located at 356 South Chesire Court, the townhome community features one-, two- and three-bedroom floor plans with natural light, storage areas, dual-pane windows, spacious kitchens and modern appliances. Community amenities include a clubhouse, a fitness center, a swimming pool, detached garage parking, a digital package concierge, a dog park and a playground. Residents are only two miles from the beach, within walking distance of Whole Foods and other upscale retail along Laskin Road and afforded convenient access to Interstate 264.