Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
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QUICK STATS
$2,213/$2.12
Market Rent
74,112
RENTABLE AREA
2023
YOC
70
UNITS
Investment highlights
The property is located in a very affluent part of the Richmond, VA MSA, with the median household income exceeding $130,000 within a five-mile radius of the property
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Newer Vintage LIHTC Project completed in 2013 and 2014 with a sub-4% vacancy rate over the trailing-12 months
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The max allowable rents at the property are at a $500+ discount to comparable market rate properties, providing for highly stable operations
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Fair Market Rents for One, Two, and Three Bedroom Units in Chesterfield County Have Increased 59.33% Since 2021
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96%
OCCUPIED
xxx
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GALLERY
GALLERY
2013 & 2014
BUILT
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700 Colton Creek Rd. - Midlothian, VA 23113
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PROPERTY OVERVIEW
Brook Creek Crossings Apartments is a 70-unit affordable housing community located in Midlothian, VA. The property is located in a very high-income area, with the median household income exceeding $130,000 within a mile of the property, as well as being just minutes from major retailers, including Walmart Supercenter, Target, and the Westchester Commons Shopping Center. Numerous restaurants, outdoor recreation, schools, and major transportation arteries are nearby as well.
The property was built iand placed in service in 2013 and 2014 under the Section 42 Low-Income Housing Tax Credit (LIHTC) program. There is an existing regulatory agreement in place which requires all units to be rented to income qualifying residents earning no more than 50% of the Area Median Income (AMI) limits, which are provided by Virginia Housing Development Authority.
Brook Creek Crossings Apartments offers one, two, and three bedroom apartment homes featuring washer/dryer connections, stainless appliances, microwaves, dishwashers, garbage disposals, and breakfast bars. Community amenities include a club house, playground, 24-hour fitness center, business center, and 24-hour emergency maintenance.
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage loan brokerage business in Nevada.
© 2025 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by the Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit: https://www.berkadia.com/licensing/.
601 Union St. Suite 3909 Seattle, WA 98101
SEATTLE OFFICE
800 W. Main St.
Suite 1410
Boise, ID 83702
BOISE OFFICE
Senior Managing Director
Affordable Housing
208.286.5013
jeff.irish@berkadia.com
ID License: #DB36794
Jeff Irish
Managing Director
504.322.1196
chris.crump@berkadia.com
CHRIS CRUMP
Associate Director 817.821.9559 jack.leonhard@berkadia.com
Jack Leonhard
The Opportunity
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Berkadia®, a joint venture of Berkshire Hathaway and Jefferies Financial Group, is an industry leading commercial real estate company providing comprehensive capital solutions and investment sales advisory and research services for multifamily and commercial properties. Berkadia® is amongst the largest, highest rated and most respected primary, master and special servicers in the industry. This advertisement is not intended to solicit commercial mortgage company business in Nevada.
© 2024 Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Berkadia® and Berkadia Commercial Mortgage® are trademarks of Berkadia Commercial Mortgage LLC. Investment sales and real estate brokerage businesses are conducted exclusively by Berkadia Real Estate Advisors LLC and Berkadia Real Estate Advisors Inc. Commercial mortgage loan origination and servicing businesses are conducted exclusively by Berkadia Commercial Mortgage LLC and Berkadia Commercial Mortgage Inc. Tax credit syndication business is conducted exclusively by Berkadia Affordable Tax Credit Solutions. For state licensing details for the above entities, visit www.berkadia.com/licensing.
Senior Managing Director
240.396.1090 drew.white@berkadia.com
DC License #SP98359700
Drew White
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Senior LIHTC Property built in 2011 containing 90 units located in the 8-story building along with 10 three-bedroom townhome units
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Well located asset just under 7 miles from downtown Miami, as well as the Miami International Airport
Senior Managing Director
214.360.3849
tim.leonhard@berkadia.com
TIM LEONHARD
Senior Director Affordable Housing
208.631.4981 jordan.skyles@berkadia.com
ID License #SP42885
Jordan Skyles
Managing Director
804.780.9247 carter.wood@berkadia.com
VA License #0225232354
Carter Wood