Featherstone Partners Acquires 208 units in Virginia Beach, VA

VIRGINIA BEACH VA, NOVEMBER 7, 2022 - Featherstone Partners, through affiliated entities, has acquired Royal Pointe Apartments, a multifamily community in Virginia Beach, Virginia. The property was acquired in transaction facilitated by Ron Carrao of Capstone, who represented the buyer and seller. Agency financing was originated by Greystone. The acquisition was capitalized in partnership with M Group Capital.
The 1987 built 208-unit asset adds to Featherstone's portfolio and expands their presence in the Hampton Roads market. Royal Pointe is located in a highly sought-after infill location in the heart of Virginia Beach and features access to many of the area's top employers. Featherstone intends to perform modest renovations to unit interiors, add amenities to the property, and make improvements to the exterior curb appeal. The company commented on the acquisition, "the current market environment has been forcing many operators like ourselves to hit the pause button. When we came across this listing, we knew its potential and how it could be a hedge against market headwinds for our investment partners. We are excited to continue to grow the Featherstone portfolio and have another Hampton Roads asset be a part of that growth." Featherstone has selected The Franklin Johnston Group as property manager.
Featherstone Partners plans to continue to acquire assets strategically throughout the Southeastern and Mid-Atlantic United States on behalf of itself and its institutional investment partners.

Featherstone Partners
1321 Laskin Road, Suite 202
Virginia Beach, Virginia 23451
Press contact: Hannah Taylor

Featherstone Partners is a privately owned commercial real estate investment firm located in Virginia Beach, Virginia which is focused in investment real estate in the Southeast and Mid-Atlantic regions. With over 70 years of combined real estate experience, Featherstone Partners has an extensive depth of industry knowledge and a wide network of relationships. The company acquires assets in high-growth markets with strong in-place cash flows and up-side opportunity. Featherstone Partners utilizes its industry relationships with both agency and private lenders as well as institutional, family office, and high net worth investors to offer diversified investment opportunities with above market returns.

This release was published on openPR.