Drucker & Falk buys 321-apartment project in York County
- May 20, 2013
Drucker & Falk has acquired Four Seasons Apartments, a 321-unit project located on Hampton Highway in York County.
The company, based out of Newport News, said in a press release that the deal was an off market transaction identified, underwritten and sponsored by Drucker & Falk and closed in a joint venture with a long standing investment partner under the name of Carlando Realty LLC.
Drucker & Falk said its business plan calls for extensive renovations including siding, balcony railing replacement, lighting and landscaping upgrades, and installation of new playground equipment.
Drucker & Falk will oversee the $2.5 million renovation and manage the property for Carlando Realty, also based out of Newport News.