Envy Apartment

RICHMOND, Va. and WASHINGTON , July 26, 2016 /PRNewswire/ --  McCann Realty Partners ("McCann") and its joint venture partner , Artemis Real Estate Partners , announced the acquisition of Hickory Creek, a 294- unit apartment community located in Richmond, VA .  Built in 1984, the three-story garden-style property is located at 2344 Hickory Creek Drive in the West End of Henrico County.  The property is located just south of West Broad Street off Tuckernuck and Mayland Drive between Gaskins Road and Parham Road. The location provides excellent access to I-64, one of the main thoroughfares in the Richmond area with close proximity to employment and retail destinations, including West Broad Village , Short Pump , and the numerous retail options along West Broad Street . Hickory Creek has large floorplans and mature trees across approximately 20 acres. The property will be managed by Pegasus Residential. ...

The realty group beat out more than 20 offers to secure the 294-unit complex on Hickory Creek Drive . A local buyer has picked up nearly 300 apartments in Henrico, where two other decades-old rental communities are under contract. McCann Realty Partners beat out nearly two dozen local and out-of-town offers on Hickory Creek, a 294-unit, 32-year-old complex of one- and two-bedroom apartments at 2344 Hickory Creek Drive . The Henrico-based firm, based less than a mile away, purchased the 20-acre property along Tuckernuck Drive, between West Broad Street and Mayland Drive, for $28.55 million. The sale closed June 27 , according to county records. McCann president Matt Akin and vice president Thomas Upson said the property’s proximity to their office, as well as to Innsbrook, was appealing to the firm, whose portfolio of rental properties is primarily out-of-state. Akin said Hickory Creek is “close by; it’s in a neighborhood we obviously know. It’s a mid-‘80s product that needs a lar...