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Dispositions 

 

Below is a summary of previous assets that Windward Realty Partners has acquired and sold. 

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Holland Office Park & Commerce Center

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A 57,351/SF asset consisting of a mix of direct access office and flex industrial space. The asset was built in 1984 and is located in Virginia Beach, VA. Windward Realty Partners acquired the asset in an off market deal and invested $362k ($6.31/SF) into the asset. The improvements consisted of a new roof, tenant improvements, and curing deferred maintenance. 
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By investing into the asset Windward Realty Partners was able to improve the tenant profile and obtain multiple credit tenants. The deal achieved an 18% IRR and a 1.62x equity multiple

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Chelsea Place

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A 22-unit single family rental development located in Chesapeake, VA. The asset is located off of Princess Ann Road and is within close proximity of major employers such as the Oceana Naval base. The asset was originally developed as a single-family rental community but were later sold off as individual units due to strong submarket fundamentals. 

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Cavalier Park Land Investment

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A 93.45 AC parcel with mixed zoning located in the northeast corner of the intersection of South Military Highway and Cavalier Boulevard in the Deep Creek Borough of Chesapeake, VA. The asset was zoned M-1 Industrial and B-2 Commerical. The land was acquired at a discount from a residential developer due to a large portion of the property deemed wetlands. The wetlands area is protected by the Chesapeake Bay Preservation Act, but more than 22 acres were developable. 

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