SLN Capital Markets Arranges Sale of 32-Unit Multifamily Community

NORFOLK, VA (June 2024) – SLN Capital Markets, a division of S.L. Nusbaum Realty Co., has arranged the sale of a 32-unit multifamily community in Virginia Beach, VA.

The team of Claiborne “Clay” Brown, Doug Aronson and Nathan Shor negotiated the sale for Live Oaks Village, a recently renovated luxury townhouse development approximately one mile from the Virginia Beach oceanfront.   The property traded on May 31^st for $12,150,000.

“We were thrilled to negotiate this deal for the parties,” said Brown, the multifamily specialist with SLN Capital Markets, who helped source the off-market transaction.  “We helped a buyer complete a 1031 exchange and the seller got a competitive price in today’s market”.

The seller, BBD Holdings LLC, was finishing up the renovation of the mostly 3-bedroom, 2.5 bath units at the time of the sale.  The buyer, Lasgo, Inc, had recently sold a hotel and wanted to bolster his multifamily holdings.

“It’s not easy to find this kind of quality product so close to both the interstate and the oceanfront,” said Aronson, the Senior Managing Director of SLN Capital Markets.  Added Shor, a partner with S.L. Nusbaum Realty Co and Regional Director of the Richmond office, “The market is tight in this corridor. We were excited to dig up a good opportunity for both parties.”

For more information about this transaction, please contact: Claiborne “Clay” Brown, cbrown@slnusbaum.com, 804.325.1995, Doug Aronson, 757.282.6510, daronson@slnusbaum.com, or Nathan Shor, 804.944.2399, nshor@slnusbaum.com.

SLN Capital Markets, a division of S.L. Nusbaum Realty Co., specializes in the sale and purchase of single, multi-tenant and multifamily investment properties, working with private and institutional investors, both locally and nationally, in the acquisition and disposition of their assets. For more information, please visit: www.slncapitalmarkets.com.