---
title: 111,000 SF Multifamily Complex
description: Fulton facilitated the acquisition and financing of a 111,000 SF multifamily complex in Virginia that presents significant value-add opportunities.
---

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# [111,000 SF Multifamily Complex](https://www.fultonrc.com/transactions/virginia-multifamily-october-17-2024)

 Written by [Fulton Staff](https://www.fultonrc.com/transactions/author/fulton-staff) | October 17, 2024

Fulton Realty Capital advised a private client on the acquisition of a multifamily apartment community in the Hampton Roads region of Virginia. Fulton’s team sourced the asset, led negotiations, and arranged 10-year fixed-rate GSE mortgage financing.

The over 110,000 square foot property contains 125 apartment homes on almost 17 acres of land. The homes feature one-to-three-bedroom floor plans. 

Despite 97% physical occupancy at closing, the asset offers upside opportunity through increasing rental rates. Current rents are significantly below market competitors. There is also a value-add opportunity through renovations, as all units are in "classic" condition.

[View full post](https://www.fultonrc.com/transactions/virginia-multifamily-october-17-2024)

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