Home›Real Estate›Industry›PXV Multifamily buys 196-unit apartment in Virginia Be…

PXV Multifamily buys 196-unit apartment in Virginia Beach

The 2013-built, four-story property at 1940 Pavilion Drive is in Virginia Beach’s Oceanfront submarket, and PXV will use Greystar for on-site management.

Reported · Written up by our desk · Industry

ConnectCRE reports that PXV Multifamily, in a joint venture with funds managed by Intercontinental Real Estate Corporation, acquired Indigo 19, a 196-unit apartment community in Virginia Beach, Virginia.

The property is located at 1940 Pavilion Drive in the Oceanfront submarket and was built in 2013. ConnectCRE says the four-story community offers a mix of one-, two-, and three-bedroom units averaging 931 square feet.

ConnectCRE also said the deal marked PXV’s second investment in the past 60 days. The seller was represented by a Colliers team that included Will Mathews, Tommy Leachman, William Dickinson, and Mike Kidd, while PXV was represented by Ferrari and Nausha.

For operations, ConnectCRE reports that PXV has engaged Greystar for on-site property management.

More like this

Sources