A Henrico County apartment property is under new ownership after spending just over a month on the market.
Capital Square Acquisitions LLC has bought the 20.4-acre Hickory Creek Apartments for $45.6 million, according to Colliers International. The sellers of the 294-unit property were McCann Realty Partners and Artemis Real Estate Partners.
The buyer in the deal is tied to Capital Square 1031, a real estate investment and management firm based in Henrico County around the Innsbrook area. Capital Square 1031 did not immediately respond to an inquiry Monday.
Payton Herschberger, a Colliers due-diligence coordinator based in Atlanta, says Hickory Creek was on the market for five weeks before it went under contract. She says there was a great amount of interest on the property in what was a competitive process.
