KLNB has successfully arranged the $26.5 million sale of Avalon Townhomes, a 182-unit townhome community located in Hampton, Virginia.
The property was sold by West End Capital Group and acquired by Two Rivers Realty Partners in partnership with Rock Creek Property Group. The transaction was led by KLNB Principal Rawles Wilcox and KLNB Senior Vice President Jared Emery of the firm’s Multifamily Capital Markets Group. KLNB represented the seller. “The buyer recognized the value of both the in-place renovations and the upside from continued unit repositioning and capital improvements,” said Wilcox.
Originally built in the 1970s and significantly renovated in recent years, Avalon Townhomes offers a compelling mix of two-, three-, and four-bedroom floor plans. Avalon Townhomes is located just minutes from Langley Air Force Base, the Hampton Coliseum, and the Peninsula Town Center, providing unmatched accessibility to both public and private sector employment hubs.
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