Weinstein sells apartment complex with undeveloped land in Petersburg for $95M

Posted at 6:06 AM, Jan 31, 2024
and last updated 2024-01-31 06:06:53-05

RICHMOND, Va. -- Two weeks before it topped the nine-figure mark with a nearly $103 million apartment sale in Chesterfield, local multifamily giant Weinstein Properties nearly reached the same benchmark with a deal in Petersburg.

The Henrico-based landlord sold Addison Crater Woods, a 636-unit complex at 200 Addison Way in Petersburg, on Dec. 8 for $95.2 million.

The deal involves five parcels totaling 140 acres, including an undeveloped parcel that’s nearly 94 acres. The other four parcels make up the apartments.

The sale price appears to be the biggest ever seen for an apartment property in Petersburg, and puts it among the priciest in the Richmond region last year.

Continue reading this story on Richmond BizSense.

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