Berkadia Arranges Sale of Luxury Multifamily Community in Chesapeake, Virginia
Richmond, Virginia – May 4, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it has arranged the sale of Allure at Edinburgh, a newly delivered, 280-unit Class A multifamily apartment community located in Chesapeake, Virginia, within the Hampton Roads region.
Senior Managing Director Drew White, Managing Director Carter Wood, Senior Director Matt Straughan and Director Cole Carns of Berkadia Richmond led the transaction on behalf of the seller, Virginia Beach-based Venture Realty Group.
Passco Companies of Irvine, California acquired the property for an undisclosed price in a transaction that closed on April 30. Arlington Properties will assume control of property management at Allure at Edinburgh.
“Allure at Edinburgh represents a best-in-class, newly delivered asset that has already achieved stabilization with exceptional leasing velocity,” said White. “With occupancy exceeding 99% and rents reaching market levels, the property offers investors durable, in-place cash flow along with meaningful upside through continued rent growth. Positioned within one of Chesapeake’s most affluent and supply-constrained neighborhoods, Allure benefits from limited near-term competitive supply, strong renter demand, and proximity to the region’s primary employment hubs. These fundamentals continue to drive investor interest across the Hampton Roads market.”
Located at 249 Allure Lane, Allure at Edinburgh was delivered in two phases across 2024 and 2025 and consists of 280 garden-style units across three four-story residential buildings totaling approximately 272,440 rentable square feet. The community offers a mix of one-, two-, and three-bedroom floorplans with an average unit size of 973 square feet.
Allure at Edinburgh features contemporary architecture, open-concept floorplans with airy ceilings, stainless steel appliances, granite countertops, modern recessed lighting, and full-size washers and dryers. Select units feature spacious kitchen islands with breakfast bars, walk-in showers, large walk-in closets, private patios or balconies with sliding glass doors, and hard surface flooring.
The community offers an extensive amenity package, including a saltwater resort-style pool with sundeck and splash pad, clubhouse with cyber café, multiple resident lounges, and a fully equipped fitness center with yoga and children’s activity rooms. Residents also enjoy a golf simulator, arcade, video game lounge, screening and media rooms, makers space, photography room, massage and meditation rooms, and private Zoom/conference rooms. Additional amenities include outdoor lounge areas, grilling stations, courtyards, outdoor gaming park, bike storage, dog park and pet spa, community-wide WiFi, and EV charging stations.
Strategically located within Chesapeake’s highly desirable Edinburgh corridor, the property is surrounded by high-end single-family housing and benefits from proximity to top-ranked public schools. Residents have direct access to the Greenbrier business district, a major economic hub encompassing more than 18 million square feet of commercial space and supporting a workforce of over 50,000 employees. The location also provides convenient connectivity to Interstate 64, Virginia Beach, and the broader Hampton Roads region.