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Onyx To Buy $800M of Mid-Atlantic Multifamily

RICHMOND, VA-To jumpstart the acquisitions, Onyx acquires a $16.2-million property here. The class B complex is comprised of garden apartments and is 94% occupied.

By Erika Morphy | Updated on February 07, 2007

(To read more on the multifamily market, click here.)

RICHMOND, VA-Onyx Partners LLC, a New York and New Jersey based real estate investment group, has acquired a $16.2-million multifamily property here from local firm, Medalist Properties. The class B complex is comprised of a mix of one-, two- and three-unit garden apartments and is 94% occupied. Morgan Stanley provided the financing.

Located at 705 Pool Rd., the 229-unit community, called Sunrise Apartments, is located in northern Chesterfield County, off Midlothian Turnpike.

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