Berkadia Arranges $65M Sale and Financing of Newly Built Multifamily Community in Richmond, Virginia
Seminole Trail Management acquires 250-unit Triton Glen
Richmond, Virginia – January 8, 2026 – Berkadia, a distinguished leader in the commercial real estate sector, announced today that it has arranged the $65 million sale and $42 million financing of Triton Glen, a newly built, 250-unit Class A multifamily community located in the Innsbrook submarket of Richmond, Virginia.
Senior Managing Director Drew White, Managing Director Carter Wood and Director Cole Carns of Berkadia Richmond represented the seller, Silver Hills, a multifamily real estate firm with projects throughout the East Coast and Midwest. Seminole Trail Management, based in Charlottesville, Virginia, acquired the property for $65 million, equating to $260,000/per unit.
In conjunction with the acquisition, Senior Managing Director Patrick McGlohn, Managing Director Brian Gould, Senior Director Hunter Wood, Associate Director Natalie Hershey, Vice President Patrick Cunningham and Senior Analyst Mac Ritchie of Berkadia DC Metro secured a $41.953 million Freddie Mac acquisition loan on behalf of the buyer. The property’s occupancy was fully stabilized at the time of the sale.
“The Richmond metro continues to demonstrate exceptional resilience, supported by a diversified economy and strong employment fundamentals,” said White. “Triton Glen presented investors with a rare opportunity to acquire a newly delivered asset in the heart of the innovative Innsbrook Corporate Campus – one of Virginia’s largest employment hubs – while seizing on growth potential as first-generation leases roll post-stabilization.”
“We were pleased to advise on both the sale and financing and to support our client’s continued expansion in the Richmond market,” added Wood. “This transaction underscores the depth of capital available for high-quality, well-located multifamily assets and highlights Berkadia’s ability to deliver certainty of execution in today’s capital markets environment.”
Located at 10945 Nuckols Road, Triton Glen is a five-story community completed in 2024, offering a mix of one- and two-bedroom residences ranging from 639 to 1,409 square feet. Apartment interiors feature stainless steel appliances, granite kitchen countertops, USB outlets, walk-in showers, walk-in closets, in-unit washer and dryers, balconies, and private yards in select homes.
Community amenities include a clubhouse, swimming pool, fitness center, conference room, game room, bike storage, and secure package facilities. The property is also surrounded by miles of scenic trails, three lakes, and expansive green space.
Triton Glen offers convenient access to Interstate 295 and Interstate 64, as well as Nuckols Road and Cox Road, and is approximately 20 minutes from downtown Richmond, Randolph-Macon College, Virginia Commonwealth University, and the University of Richmond.
Founded in 1994 with a 40-unit acquisition in Norfolk, Virginia, Seminole Trail Management is focused on value-add multifamily opportunities, and has grown over the past 25-plus years into a vertically integrated owner and operator with approximately 5,700 apartment units and 3 million square feet of commercial real estate across Charlottesville, Richmond, Newport News, Williamsburg, Hampton, Norfolk, Virginia Beach, Chesapeake and Suffolk, Virginia.
Silver Hills is a fully integrated real estate development firm focused exclusively on luxury Class A apartment communities in high-growth, high-demand regions. The firm has managed more than $3 billion in real estate assets, developed 10,000+ units, and overseen $2 billion in capital transactions. Currently, Silver Hills has 8 active development projects underway throughout the Southeast and Midwest.
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