Henrico apartment complex sells for $28.52M

The property last sold in late 2017 for $20.6M.

Published February 10, 2020 by Sydney Lake

Millspring Commons Apartment Homes in Henrico County sold for $28.52 million, Los Angeles-based real estate company CBRE Group Inc. announced Feb. 4.

Built in 1972, the 159-unit, 165,030-square-foot townhome rental community is located at 9318 Tarheel Terrace adjacent to Staples Mill Road.

Washington, D.C.-based property management company Republic Properties Corp. bought the community from real estate private equity firm Aurelie Capital LLC, which had acquired the property in late 2017 for $20.6 million.

CBRE Group Inc.’s team of Richmond broker Peyton Cox, Jonathan Greenberg, Robert G. Dean III, Yalda Ghamarian Howell and Thomas Leachman represented Republic Properties Corp. in the transaction. David Webb and Maxi Leachman from CBRE’s debt and structured finance team arranged financing for the buyer.

The sale officially closed Jan. 21.