Charlottesville apartment complex goes for $44.9M
Barracks West sold off-market to Reston company
Barracks West, a 324-unit townhouse and apartment complex in Charlottesville, has been sold for $44.9 million, Edge Multifamily Capital Markets Group announced this week. Located at 255 Saponi Lane, the community was sold off-market to Reston-based Willow Creek Partners by The Goldstar Group.
Bethesda, Maryland-based Goldstar purchased the property in 2012 and improved the residences. It was approximately 96% leased at the time of sale, in which the seller was represented by Edge partners Rawles Wilcox, Jared Emery and Ryan Ogden. The community is less than five minutes from the University of Virginia.
Willow Creek is a real estate and investment management firm that focuses on acquisition and management of multifamily properties in the mid-Atlantic and Southeast areas, particularly Virginia, North Carolina and South Carolina.