Download Offering Materials: Colonial Landing Apartments
Capstone Apartment Partners is pleased to present Colonial Landing Apartments, a 1938 vintage, 92-unit garden-style apartment community located in Hampton, Virginia. Colonial Landing features an attractive mix of one-, two-, and three-bedroom floorplans and is being offered at a significant discount to recent market trades, making Colonial Landing an ideal investment opportunity to establish a foothold in the Hampton Roads MSA. Current ownership purchased the asset with the intent to implement a full-scale value-add program but due to COVID, was unable to and is now offering the property at a steep discount to other similar properties in the market. With a fresh value-add program implemented by new ownership, Colonial Landing is poised to achieve premiums up to $250+ and positioned for significant NOI growth for years to come. Additionally, the property is centrally located amongst major hospital systems, universities, and Class A retail, making the property highly attractive to new and prospective tenants.
Investment Highlights
Distressed Asset Priced Significantly Below Local Sale Comps
Full-Scale Value-Add Opportunity
Situated Amongst Major Employers
Suburban Setting With Proximity to Major Retail and Amenities
