Industries Commercial Real Estate

Bethesda firm buys Chesterfield apartment community for $25.3 million

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A 266-unit apartment community in Chesterfield County has sold for $25.3 million.

ARA Newmark announced the sale Wednesday of the 10-acre Courthouse Green, which it said was 95 percent occupied.

According to ARA, the buyer was Bethesda, Md.-based Railfield Realty Partners, a multifamily investment firm that focuses on markets in Florida, Virginia, North Carolina, South Carolina and Texas.

ARA Senior Managing Director Wink Ewing and Executive Managing Directors Mike Marshall and Drew White represented the seller, California-based Fairfield Courthouse Green LLC.

Courthouse Green is located down Route 10 from a million-square-foot Amazon fulfillment center and is less than one mile from the Chesterfield County government offices.

Constructed in 1974, the property consists of 33 buildings with one-, two- and three-bedroom multilevel townhome-style units. Amenities include a pool, a 24-hour fitness center, playground, picnic area and onsite storage.

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