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Bellemeade Farms

Leesburg, VA

316 Units

Built in 1988

Value Add

Investment Highlights

  • INHERENT RENT GROWTH: There is a $490+ rental delta on top of market rents between Bellemeade Farms & the comparable set . New leases are 7%+ high than in-place rents & renewals range from 7% to 10%.
  • PROVEN VALUE-ADD UPSIDE: The Property presents investors with proven value-add upside. The opportunity remains to 263 partially renovated units to the highest spec level, $200+ premiums are in-place.
  • AFFLUENT SUBURBAN ENCLAVE IN NORTHERN VA: Household formation increased 22% over the past 10 years, & median income rests atop the list of the wealthiest counties in the country $165k per annum.
  • ACCESS TO MAJOR EMPLOYMENT DRIVERS: Loudoun County is a core component of "Data Center Alley" where there are nearly 300 data center buildings and over 30 million square feet of operational space, accounting for 12,000+ jobs.
  • UPDATED AND WELL-MAINTAINED ASSET: Bellemeade Farms has been exceptionally well cared for with over $2.75 million invested by current ownership in capital expenditures, basebuilding, and deferred maintenance efforts.
  • DESIRABLE NORTHERN VA INVESTMENT MARKET: Institutional multifamily capital is acutely focused on Northern Virginia within the Mid-Atlantic. Over the past two years, multifamily investment volume totaled $24 billion in Northern VA alone. New supply is limited to two projects and higher proffers will prevent new development for the foreseeable future.

Exclusively listed by

  • Robert G. Dean

    Senior Managing Director Investments

    Washington, D.C., MD

    (202) 536-3772

    Washington, D.C., MD

    License(s): MD: 5013691, DC: SP98377025, VA: 0225262193

  • Jonathan Greenberg

    Senior Managing Director Investments

    Washington, D.C., MD

    (202) 536-3771

    Washington, D.C., MD

    License(s): VA: 0225058075, DC: SP102482

Broker of Record

Brian Hosey

Senior Vice President/Division Manager

(202) 536-3700

License(s): VA: 0225247494


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