Besyata Investment Group & The Scharf Group Acquired Brookfield Apartment Homes in Virginia Beach, VA for a Purchase Price of...
October 15 2018 - 2:38PM
Business Wire
Besyata Investment Group and The Scharf Group, both NY-based
single family offices, have acquired Brookfield Apartment Homes in
Virginia Beach, VA for a purchase price of $37,750,000.
This press release features multimedia. View
the full release here:
https://www.businesswire.com/news/home/20181015005854/en/
Besyata Investment Group and The Scharf
Group Acquire Brookfield Apartment Homes in Virginia Beach, VA for
a Purchase Price of $37.75 Million (Photo: Business Wire)
Drucker and Falk Multi Family Property Management, a leading
property manager of 30,000+ apartments across 10 states, will
handle the day-to-day property management and leasing.
The Property
Brookfield Apartment Homes, located in the fast-growing Virginia
Beach Submarket, is a 352-unit apartment community offering one of
the most comprehensive amenity packages in its submarket as well as
an abundance of nearby recreation, immediate proximity to Level
Green Park which offers green space, Tennis Courts and Baseball
fields.
Located near the intersection of the Virginia Beach, Norfolk and
Chesapeake submarkets, the community benefits from convenient
immediate access to the I-64.
Business Plan
By capitalizing on the exterior capital improvement program
implemented by previous ownership, Besyata and Scharf plan to add
value to the property through gradual unit renovations in addition
to amenity/common area enhancements to better compete with
properties in the area.
Besyata Investment Group
A NY-based family office focused on the acquisition and
development of multifamily and commercial properties nationwide
while pursuing a value-add strategy. Besyata currently owns and
operates a multifamily portfolio spanning nine states, consisting
of 5,000+ units.
The Scharf Group
A NY-based fourth generation family office; owner, developer,
and operator of a large portfolio of commercial, multifamily,
healthcare & senior housing properties nationwide.
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181015005854/en/
BesyataDaniel Lilker, 718-977-5010dlilker@besyata.comorScharf
GroupOren Souli, 718-837-7700oren@thescharfgroup.com