Enterprise Community Development, the Baltimore-based nonprofit owner and developer of affordable housing in the Mid-Atlantic market, announced Thursday the closing of the sale of Auburn Pointe Apartments in Newport News, Va., for 28 .7 million.
The community, originally purchased by CPDC, a subsidiary of Enterprise Community Development, in 2015 was sold to a subsidiary of Bethesda-based RailField Partners, which purchased the property on behalf of its RLM preservation fund which focuses on preserving affordable housing. The property was sold in the name of Enterprise by Drew White, Carter Wood and the Berkadia team. Aaron O’Toole of Klein Hornig LLP provided advice to Enterprise, while Cynthia Eagle of Answer Title provided title and escrow services for the transaction.
Built in 1972, the community, located at 496 Catina Way along the northwest boundary of Newport News in Denbigh, is conveniently located off I-64, providing residents with easy access to shopping, the airport and to major highways.
The 274-unit community features one-, two-, and three-bedroom apartments along with a range of amenities including a swimming pool, laundry facilities, playground, fitness center, and ample parking. Amenities include in-unit washers and dryers, high-speed internet access, and walk-in closets.