HAMPTON-On November 16, Cushman & Wakefield/Thalhimer announced the sale of Barrington Woods, a 136-unit multifamily property located at 607 Michigan Dr. in Hampton.
Cushman & Wakefield | Thalhimer’s Capital Markets Group, in conjunction with Cushman & Wakefield’s Mid-Atlantic Multifamily Advisory Group, represented the seller, Outlier Realty, in the sale. A Los Angeles, CA-based investor, DBC Barrington, purchased the property from Outlier Realty for $9,250,000 as an investment.
“Barrington Woods is a significant value-add opportunity in the attractive submarket of Hampton, a standout performer within Hampton Roads,” said Clark Simpson, First Vice President, Cushman & Wakefield | Thalhimer Capital Markets Group, in a statement. “Outlier Realty made significant capital improvements to the Property during their tenure of ownership, including new plumbing, several interior unit renovations, and select new HVAC installations, which new ownership plans to continue to implement and improve upon while capitalizing upon a historically low-interest rate environment and continued market rent and employment growth.”