Transaction volume in the region’s multifamily real estate market seems to be continuing to pick up momentum as a Southside apartment complex fetched eight figures just before the calendar turned over.
The Ashley Park Apartment Homes at 6901 Marlowe Road sold last month for $47.1 million, city property records show. The 272-unit complex is located just east of Chippenham Hospital.
The new owner is DSP Real Estate Capital, a Northern Virginia-based firm that’s using Ashley Park as its entrance into the Richmond market. DSP’s portfolio, valued at around $300 million, counts over 1,500 units throughout Virginia, West Virginia and South Carolina. Its other Virginia holdings are in Roanoke.
The sale closed Dec. 20 with a per-door price of $173,000. The property was most recently assessed by the city at $40 million…