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Colliers International Announces Sale of Carolanne Terrace in Virginia Beach

Colliers International is pleased to announce the sale of Carolanne Terrace, a multifamily community, from B&W Properties to MRKT Capital. 

The community includes 112 spacious two-bedroom, two-bathroom floorplans equipped with stackable washers and dryers. Historically well occupied and often with a tenant waiting list, Carolanne Terrace has tremendous room for revenue growth through a strategic value-add program. 

The property is located at 5528 Carolanne Terrace in Virginia Beach between the Virginia Beach Town Center and downtown Norfolk offering convenient access to major employers and the region’s top retail. 

G.S. (Hank) Hankins, senior vice president; Victoria Pickett, first vice president; Charles Wentworth, senior vice president; Will Mathews, managing director; Clay Ellis, associate; and Garrison Gore, associate, with the Colliers National Multifamily Advisory Group represented the seller. 

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George Hankins

Executive Vice President

Norfolk - Main

George Hankins (Hank) is a Senior Vice President of Investment Properties, specializing in the execution of multifamily property sales throughout the Hampton Roads metropolitan area. Hank is an integral part of the underwriting, marketing and sales process for multifamily properties and promotes Colliers' platform in the Southeastern region of Virginia. 

During his career, Hankins has been involved in more than $1 billion in multifamily sales throughout the Hampton Roads and Richmond markets. In addition to dispositions, Hankins has also held the role as principal partner for Croatan Investments, leading their acquisitions team as it closed $125 million in multifamily property transactions in Virginia and North Carolina in a two-year period.

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Victoria Pickett

Senior Vice President

Norfolk - Main

As part of the Colliers International Multifamily Advisory Group, Victoria specializes in the exclusive listing of multifamily properties throughout Virginia. To date, Victoria has transacted 75 multifamily or multifamily land opportunities totaling in excess of $1.5B  in sales volume with her mid-Atlantic team. She earned "Rookie of the Year" in 2017 from Hampton Roads Commercial Sales and Leasing Achievement Awards. Pickett has seven years' experience in multifamily disposition or underwriting, with former roles as financial analyst, market researcher, and auditor.

Prior joining Colliers International, Victoria was Vice President of Multifamily Investment Sales with CBRE|Hampton Roads, part of the CBRE affiliate network. Before brokerage, she was Financial Analyst and Market Researcher where she led the underwriting of income producing properties and research reporting. 

Early in her career, Victoria worked as an auditor and consultant for DHG LLP, a top 20 public accounting firm, where she primarily served commercial real estate and financial institution clients, specializing in multifamily housing and bank lending operations. Prior experiences include audits of VHDA and HUD-assisted projects, multifamily property management consulting and compliance, and audits of development cost certifications.

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Charles Wentworth

Executive Vice President

Richmond - North

Charles Wentworth has been actively involved in the commercial real estate field since 2007 focusing on multifamily acquisitions and sales in the Mid-Atlantic and Southeast. Charles joined the firm in 2012 to specialize in multifamily sales and represents private, high net-worth, and institutional clients in the central and western Virginia markets.  Since joining the firm, Charles has successfully completed transactions totaling $350 million.

Previously, Charles was an Associate for Apartment Realty Advisors (Now ARA Newmark) in Charlotte, North Carolina, one of the country’s largest multi-family brokerage firms. While an Associate with the firm, the group brokered nearly $2 billion of apartment communities in the primary, secondary, and tertiary markets of North Carolina and South Carolina.

Prior to starting a career in real estate, Charles held various sales and management positions with Ferguson Enterprises, the country’s largest supplier of plumbing, heating, and building products. Charles began his career with the firm as a management trainee in Tampa, Florida and was later promoted to management positions in Gainesville, Florida and Santa Monica, California.

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Will Mathews

Executive Managing Director

Atlanta

Will is primarily responsible for procuring and executing institutional multifamily investment sale transactions throughout the United States. In 2020, Mr. Mathews was appointed to the U.S. Capital Markets Board of Advisors in the role of Multifamily Practice Group Leader.

Since joining Colliers in 2012, Mr. Mathews has assisted with the sale of over 61,500 apartment units totaling $6.8 Billion. Mr. Mathews is routinely recognized by Colliers International as a top producer nationally. 

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Clay Ellis

Senior Associate

Washington, DC

In 2018, Clay joined Colliers International as an investment sales professional. During his time at Colliers, Clay has facilitated the sale of assets totaling over $820M in value.  His transaction experience spans across the Mid-Atlantic region with a focus on the DC Metro region. Clay specializes in the investment sales of industrial, land and multifamily properties. His clients have been institutional investors, private capital investors, REITs, and foreign capital investors. Clay’s previous clients include but are not limited to organizations like Bonaventure, Greystar, Capital Square 1031, Bristol Development, DRA, and Bainbridge. 

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