Richmond-Area Property Gets New Owners

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Richmond-Area Property Gets New Owners

June 4, 2021

Navigating an expedited due diligence period, Capital Square Apartment REIT acquired months-old Sapphire at Centerpointe, a Class A apartment community in an area of suburban Richmond, Va. displaying strong fundamentals.

Located at 14250 Sapphire Park Lane, the property offers 192 units in a mix of one-, two- and three-bedroom residences ranging in size between 860 square feet and 1,482 square feet. The community is currently 97 percent leased.

Apartments feature island kitchens, granite countertops, in-unit washers and dryers, framed mirrors and air conditioning. Quick-charge electric car charging stations are among the leading amenities of Sapphire at Centerpointe.

“There was a quick, 21-day due diligence period that Capital Square navigated successfully,” Capital Square CEO Louis Rogers told Multi-Housing News.

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