Northmarq finalizes sale of 95-unit, build-to-rent community in Northern Virginia

WASHINGTON, D.C. (Feb. 20, 2024) — A Northmarq specialty Build-to-Rent team led by Ari Azarbarzin and Gabe Tovar has completed the sale of West Wind, a 95-unit build-to-rent community located at 113 Holt Court in Stephens City, a northern Virginia town located 14 miles south of Winchester, VA.

Northmarq represented the seller in the transaction. The team also included Chris Doerr, Will Harvey, Shack Stanwick, Matt Straughan, Wink Ewing and Anthony Pino.

Northmarq’s Debt + Equity team of Tom Peloquin, Cabell Thomas and Rich Choisser secured acquisition financing on behalf of the buyer, a joint venture between RockBridge Investment Group and DSP Real Estate Capital.

“Build-to-rent acquisition opportunities are extremely rare in Virginia and the Mid-Atlantic region at this time,” said Azarbarzin. “Investors were drawn to this offering because of dynamic growth in the Winchester region and its strategic location within commuting distance of Washington, D.C. and the Dulles Technology Corridor.”

“We enjoyed working with Ari Azarbarzin and the capital markets team at Northmarq on our purchase of West Wind Townhomes,” said Purna Dokku, managing partner at DSP Real Estate Capital. “This is our first of several build-to-rent communities we plan on acquiring this year. Northmarq made the transaction proceed smoothly and, most importantly, on time."

Built in 2023, West Wind offers two-story, three-bedroom townhomes outfitted with smart-home technology, stainless steel appliances, granite countertops and hard surface flooring. Situated near Interstate 81, the property is close to Stephens City and Winchester and their dining and shopping offerings. Residents of the pet- and family-friendly community benefit from the site’s scenic surroundings, crafted walking trails and large outdoor play area.

Visit here to learn more about Northmarq’s Build-to-Rent specialty group.