{"id":1004050305,"date":"2012-08-08T07:02:04","date_gmt":"2012-08-08T15:02:04","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=61949"},"modified":"2020-04-07T05:17:51","modified_gmt":"2020-04-07T13:17:51","slug":"dra-buys-richmond-assets-as-part-of-298m-m-f-deal","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/dra-buys-richmond-assets-as-part-of-298m-m-f-deal\/","title":{"rendered":"DRA Buys Richmond Assets as Part of $298M M-F Deal"},"content":{"rendered":"

By Adrian Maties, Associate Editor<\/p>\n

Two West End apartment complexes have changed hands as part of the largest multi-family portfolio sale so far\u00a0this year. \"\"<\/a>Dominion Creekwood and Dominion West End accounted for about $80 million of a deal that closed on June 28.<\/p>\n

The two properties are part of a nine-asset portfolio acquired for $297.8 million by New York City-based DRA Advisors from UDR Inc. In addition to the Richmond properties, DRA also acquired apartment communities in Jacksonville, Fla., and Dallas. UDR, the Denver-based REIT, was represented in the sale by Apartment Realty Advisors.<\/p>\n

The 500-unit Dominion Creekwood–now known as the Villages at West Laurel–was\u00a0 built in the late 1970s and early 1980s and has 500 units. It is located in western Henrico, close to I-64, I-295 and I-95. The community offers one-, two-, and three-bedroom apartments in both town home and garden-style homes. Amenities include large closets, a private patio or balcony, washer and dryer, two swimming pools, 24-hour fitness center, multiple playgrounds, tennis courts and a car wash station.<\/p>\n

Completed in 1989, the 350-unit Dominion West has been re-branded the Trails at Short Pump and is located near I-295, I-64, and Rt. 288, in Richmond. The community is near\u00a0\u00a0Short Pump Towne Center, West Broad Village, Henrico County Schools, West Creek, and Short Pump Park. Residents can choose from one-, two-, and three-bedroom apartments with large closets, washer and dryer, microwave ovens, private patios or balconies. Other amenities include a fitness center, game room, a business center, swimming pool, pet park, and outdoor kitchen with pavilion.<\/p>\n

Image courtesy of https:\/\/www.bellapartmentliving.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

Two West End apartment complexes have changed hands as part of the largest multi-family portfolio sale so far this year. Dominion Creekwood and Dominion West End accounted for about $80 million of a deal that closed on June 28.<\/p>\n","protected":false},"author":1269,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[36153],"tags":[],"class_list":["post-1004050305","post","type-post","status-publish","format-standard","hentry","category-richmond-hampton-roads"],"acf":[],"yoast_head":"\nDRA Buys Richmond Assets as Part of $298M M-F Deal - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/dra-buys-richmond-assets-as-part-of-298m-m-f-deal\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"DRA Buys Richmond Assets as Part of $298M M-F Deal\" \/>\n<meta property=\"og:description\" content=\"Two West End apartment complexes have changed hands as part of the largest multi-family portfolio sale so far this year. 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