Baron Realty Advisors buys Tapestry Park Apartments in Chesapeake for $29.6 million
- May 15, 2012
Baron Realty Advisors, a private equity investment firm based in New Jersey, has purchased a 190-unit apartment property at 728 Tapestry Park Loop in Chesapeake for $29.6 million.
Tapestry Park was built in 2011 and offers one-, two- and three-bedroom garden apartments. Located off Battlefield Boulevard and adjacent to the Chesapeake Regional Medical Center, the property was 94 percent occupied at the time of the sale. Dan W. Johnson, senior vice president, and Hank Hankins, a senior associate for CBRE|Hampton Roads, brokered the sale of the property as exclusive marketing agents for the developer and seller, Arlington Properties of Birmingham, Ala.