(To read more on the multifamily market, click here.)
FREDERICKSBURG, VA-The Stephen A. Goldberg Co has acquired the Wellington Portfolio, a group of two apartment communities offering a total of 274 rental units. The purchase price was $19.6 million.
With the assistance of Ideal Realty Group apartment REIT Home Properties Inc. sold the portfolio. Goldberg was self represented. The complexes, Wellington Lakes and Wellington Woods, offer 160 and 114 units, respectively.
The 33-year-old Wellington Lakes carries the address of 136 Wellington Lakes Dr. and the 31-year-old Wellington Woods is located at 1704 Lafayette Blvd. Both properties sit within minutes of each other off I-95. The process of facilitating and closing the deal was conducted in fewer than 75 days. Goldberg Co. will continue to operate the multifamily communities as apartments.
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