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Northside apartment up for auction

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Posted at 8:14 AM, May 29, 2013
and last updated 2013-05-29 08:19:16-04

By Michael Schwartz

RICHMOND, Va. (RichmondBizSense.com) – Ownership of a large Northside apartment complex is up for grabs this week.

The 216-unit Chamberlayne Gardens Apartments will be offered for sale at a foreclosure auction Thursday.

The 11-acre property is owned by CG Bellkor LLC, which is affiliated with locally-based real estate firm OHI.

CG Bellkor defaulted on a loan, according to a legal notice. The current noteholder and lender on the property is Fannie Mae, according to city records. The original loan amount was around $8 million.

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