The Crossings at Bramblewood

338 UNITS WITH PROVEN VALUE-ADD UPSIDE IN HIGH-GROWTH RICHMOND, VA

Colliers is pleased to present The Crossings at Bramblewood, a 338-unit garden-style community with proven value-add upside located in a rapidly growing submarket of Richmond, VA. In excellent physical condition and institutionally maintained, the property has a proven track record of strong demand and stable occupancy, averaging 95% over the last 6 months. Positioned next to Chippenham Hospital (2,000 jobs) and only 15 minutes from VCU/VCU Hospital (18,400 jobs) in downtown Richmond, The Crossings at Bramblewood allows new ownership to leverage below-market rents, excellent demand (16.8% new lease organic rent growth over the last 7 months), strong market rent growth in the South Richmond submarket (4.1% annually from 2025 to 2029), and minimal new supply (only 144 units within a 3-mile radius over the next 3+ years) to build upon proven renovation premiums and push top-line revenue.

The upside potential at The Crossings at Bramblewood is still largely untapped. 202 unrenovated units (60%) currently feature tile floors, oak cabinets, black appliances, and laminate countertops. 136 units (40%) were recently renovated with modern white shaker cabinets, hardwood-style floors, backsplash (select units), new fixtures, and higher-end laminate countertops to achieve average rents $125/unit greater than unrenovated units. New ownership can unlock over $545,000 of additional untapped revenue by elevating the renovation standard across the remaining 202 units with premium upgrades including stainless steel appliances, a tech package, and granite countertops to generate renovation premiums of $225/unit per month.

95% Occupied (as of 08/06/2025)