RailField Realty Partners, a multi-family investment firm based in Bethesda, Md., has purchased the Village at the Arbors, a 292-unit apartment complex in western Henrico County for $17.1 million. The acquisition, late in the year, was the company's second n the Richmond market in 2017.
Railfield said it bought the property from a New York based-institutional investor. The property is located in an infill setting, less than 5 miles from downtown Richmond. It has access to both I-95 and I-64 and is close to shopping and other neighborhood amenities.
RailField plans to invest $2.3 million in upgrades to the property’s common areas and its units.
