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Kushner Deal Emblematic of Continued Out-Of-Market Demand for Richmond Apartments

CoStar Market Insights: Real Estate Company Purchased Suburban 532-Unit Portfolio for $98 Million in Late June
Garden Springs is one of two apartment complexes that sold to the Kushner Cos. for $98 million at the end of June. Photo: CoStar
Garden Springs is one of two apartment complexes that sold to the Kushner Cos. for $98 million at the end of June. Photo: CoStar
By Rachel Silverio
July 2, 2019 | 9:35 P.M.

The Park at Salisbury and Garden Springs apartment portfolio only hit the market in January, but the proposed sale generated a fervor. According to an article from the Richmond Bizsense, the ownership of the property, Ronald C. Evans & Associates, was proffered more than 100 offers leading up to the sale of the portfolio. Not only were many out of state, but some were international.

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