Berkadia Arranges Sale of Affordable Multifamily Community in Charlottesville, Virginia
Richmond, Virginia – April 9, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it has arranged the sale of Rio Hill Apartments, a 139-unit multifamily community located in Charlottesville, Virginia.
Senior Managing Director Drew White, Managing Director Carter Wood, Senior Director Matt Straughan and Director Cole Carns of Berkadia Richmond, along with Senior Managing Director Brandon Grisham and Senior Director Jordan Skyles of Berkadia Affordable Housing, arranged the sale on behalf of the seller, Amurcon Realty Company. Palatine Capital Partners of Miami, Florida acquired the property.
“Rio Hill Apartments presented a compelling opportunity to acquire a well-performing affordable housing community,” said Wood. “With strong leasing momentum and consistent occupancy, the property is well positioned to benefit from continued demand for quality multifamily housing in the Charlottesville market.”
Located at 1610 Rio Hill Drive, Rio Hill Apartments is a three-story, garden-style multifamily community built in 1995. The property offers two- and three-bedroom apartment homes with spacious floorplans averaging approximately 1,152 square feet, full-size, in-unit washer and dryer, fully equipped kitchens, high speed internet, and private patios or balconies. Community amenities include a swimming pool with sundeck, basketball court, two children’s play areas, and convenient access to major transportation corridors.
Rio Hill Apartments is strategically located along Route 29, providing residents with direct access to Charlottesville’s primary employment and lifestyle hubs, including the University of Virginia, UVA Health System, and the National Ground Intelligence Center. The property also benefits from proximity to major retail destinations such as Hollymead Town Center and the North Pointe mixed-use development.