Berkadia, a distinguished leader in the commercial real estate sector, announced that it arranged the $52.5 million sale of The Flats at Legacy, a 176-unit Class A multifamily community located in Poquoson, in the Hampton Roads region of Virginia.
Senior Managing Director Drew White, Managing Director Carter Wood, Senior Director Matt Straughan, and Director Cole Carns of Berkadia Richmond led the transaction on behalf of the seller, Franklin Group of Virginia Beach. Utah-based Ceifa Capital acquired the property in a transaction that closed on May 29, 2026.
“The Flats at Legacy represented a rare opportunity to acquire a newly delivered, institutional-quality asset in one of the most supply-constrained and affluent submarkets in Coastal Virginia,” said White. “Poquoson’s limited multifamily inventory, top-ranked public schools, and proximity to major aerospace, defense, and healthcare employers continue to drive strong renter demand and long-term rent growth potential.”…