CHESAPEAKE, VA. – NorthMarq’s Wink Ewing and Mike Marshall, with the firm’s Ryan Rilee, arranged the sale of the Streets of Greenbrier residential community in Chesapeake for $ 67.3 million. The NorthMarq team represented Richmond-based seller GrayCo Inc., who sold the property to Capital Square, a DST (Delaware Statutory Trust) platform based in Richmond.
The Streets of Greenbrier was built in 2013 and consists of 280 residential units on 929 Wintercress Way. A joint venture with Wood Partners & GrayCo Inc. originally developed the property. Market conditions were extremely favorable as Chesapeake had the highest annual rental growth in the region at more than 6 percent.
The property is close to the Greenbrier and Summit Pointe business districts. Greenbrier is the largest business district in Hampton Roads and includes 19 million square feet of commercial space.
The property includes one, two, and three bedroom floor plans. The apartment has 9 to 10 foot ceilings, attached / freestanding garages, ceramic tile floors and tub coverings in the bathrooms, an individual lighting package, espresso furniture with nickel fittings, LVP floors in the entrances and in the kitchen as well as open kitchens with granite surfaces / islands, Stainless steel hot tub units, oversized bedrooms, patio / sunroom options, soaking tubs in master bathrooms, tiled floors in kitchen, washer / dryer included, and open concept floor plans.
The communal facilities include 24-hour emergency maintenance, a 24-hour fitness center, a billiards area, a charcoal grill and a picnic area around the pond, a digital parcel acceptance and notification system, a dog park, a sundeck with WiFi access, a fireplace lounge , Free Car Wash and Vacuum Cleaner, Swimming Pool, On-Site Recycling, Outdoor Fireplace, Poolside Outdoor Pool, and Valet Parking.