Acquisition of an existing 138-unit apartment community in Woodbridge, Virginia.
An opportunity to implement a value-add strategy on an existing apartment community.
The 138-unit garden-style community, which was built in 1985, is located in Woodbridge, Virginia. Insight and investment partner, Fundrise, acquired Haven Woodbridge (formerly Lancaster Mill) in September of 2016 for $20,150,000.
Post-acquisition Insight engaged in a rigorous asset management program which included new property management, re-branding the property, and implementing value-add renovations to the property’s units, exteriors and landscaping.
Haven Mount Vernon was sold in February 2021 after successfully executing the value-add business plan.