Aspire at Towne Place is a 215-unit Class A multifamily community located in Chesapeake, Virginia, within the Hampton Roads MSA – one of the nation’s most stable and recession-resistant rental markets. Built in 2013 and situated in the highly desirable Greenbrier submarket, the Property benefits from immediate access to major employment centers, regional retail destinations, healthcare systems, and military installations that collectively support a diverse and durable demand base. The acquisition was completed at an estimated 25% discount to replacement cost, creating an attractive basis in a supply-constrained market.

The investment thesis combines institutional-quality real estate with a straightforward value-add business plan and highly attractive long-term financing. Aspire features spacious one, two, and three-bedroom floor plans with modern finishes and a best-in-class amenity package, including a resort-style pool, fitness center, clubhouse, and extensive resident gathering spaces. Ownership plans to implement targeted interior upgrades, flooring improvements, common-area enhancements, and operational efficiencies designed to drive revenue growth while enhancing the resident experience.

A key differentiator is the Property’s assumable HUD financing, which provides below-market fixed-rate debt with approximately 29 years of remaining term, creating substantial cash flow stability and downside protection. The combination of an attractive basis, durable market fundamentals, long-term fixed-rate financing, and a proven value-add strategy positions Aspire at Towne Place to generate strong risk-adjusted returns while benefiting from continued growth throughout the Hampton Roads region.