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Colliers Announces Sale of Two Multifamily Communities - Tech Center Square in Newport News and Pines of York in Yorktown, Va.

NEWPORT NEWS, Va. – November 23, 2021 – Colliers is pleased to announce the sale of two multifamily properties on behalf of Resource REIT in Hampton Roads.

Tech Center Square, 128 Jefferson Point Lane in Newport News, was sold from Resource REIT to Walde Management. The multifamily community was originally built in 1985 and includes 208 residential units. Situated near a Whole Foods anchored shopping center in the most highly trafficked corridor of the Peninsula, Tech Center Square offers tremendous long-term revenue potential. The property offers a generous mix of amenities including a fitness center, pool and entertainment area, dog park, sports court and clubhouse. Walde Management is planning a comprehensive renovation program for both unit interiors and common areas.

Pines of York, 3100 Hampton Highway in Yorktown, sold from Resource REIT to Riverpass Holdings. The community includes 248 residential units in a strategic location with top-rated schools and employment opportunities. Originally constructed in 1974, Pines of York offers large floorplans with tremendous value-add potential. The comprehensive mix of community amenities including a clubhouse, fitness center, pool with sundeck, tennis courts, business center and playgrounds in a mature tree-lined setting make Pines of York a top choice among renters.

G.S. (Hank) Hankins, executive vice president; Victoria Pickett, first vice president; Charles Wentworth, executive vice president; and Garrison Gore, assistant vice president, with Colliers Virginia Multifamily Team, represented the seller.

 

For more information, please contact: Cindy Mackey, 757-754-4553, cindymackey@cox.net


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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

First 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

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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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Garrison Gore

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As an Associate and Financial Analyst with the Capital Market Advisors team in the Colliers International Richmond, Virginia office, Garrison participates in all facets of the investment transaction process, including investor communication, financial analysis, analytical decision support and technical expertise. With over $1 Billion in valuation experience, Mr. Gore utilizes Argus to analyze opportunities and enhance clients’ real estate investment strategies.

Prior to joining the Capital Market Advisors Team, Garrison developed his foundation in commercial real estate by first interning with the firm, where he developed a broad understanding of the valuation of various property types including office, industrial, and retail throughout the Mid-Atlantic.

Garrison attended the Moore School of Business at the University of South Carolina, where he studied finance and real estate, complimented by a minor in civil engineering.

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