PRESS RELEASE: CBRE|Hampton Roads Sells Jefferson Point Apartments

NORFOLK, VA – CBRE|Hampton Roads is pleased to announce the sale of Jefferson Point Apartments at 128 Jefferson Point Lane in Newport News, Va.  

Jefferson Point Apartments is a 208-unit luxury garden-style community that consists of one and two-bedroom units in a wooded park-like setting. Residents enjoy an excellent amenity package that includes a clubhouse, resort-like swimming pool, fitness center, car care center and tennis court. The property is extremely well-located at the intersection of Jefferson Avenue and Oyster Point Road, giving residents immediate access to all the employment centers and amenities of the Jefferson Corridor and Oyster Point area.

Dan W. Johnson, Senior Vice President and Hank Hankins, Vice President, for CBRE|Hampton Roads represented the seller, AEW Capital Management, LP, as their Exclusive Marketing Agent. The sale is remarkable in that it was the subject of heavy competitive bidding, and sold in just 88 days from inception of marketing, and just 25 days from contract execution. It was the first Hampton Roads investment by an entity affiliated with Resource Real Estate, the Philadelphia-based buyer. Johnson said, “The sale speaks volumes about the desirability of Hampton Roads apartments in the investment community.”


TAGS: Investment