June 3, 2021
A Henrico County-based real estate investment and management company has bought another apartment community in the Richmond region.
Capital Square acquired Sapphire at Centerpointe complex off Charter Colony Parkway in Chesterfield County. It paid $48.3 million for the 192-unit apartment complex.
Robinson Development Group had developed the apartment community, which was completed in 2020.
Sapphire at Centerpointe features one-, two- and three-bedroom units, which are currently 97% leased, the company said.
The acquisition comes six months after Capital Square bought the the 301-unit The Canopy at Ginter Park apartment complex at Westwood Avenue and Brook Road in North Richmond for $83.75 million.
In October 2019, Capital Square bought the 2000 West Creek apartments, a 375-unit complex in the West Creek office park in Goochland County that had opened a year earlier, for $103 million.
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