Northmarq Finalizes Sale of 95-Unit, Build-to-Rent Community in Northern Virginia

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Feb 20, 2024, 08:34 ET

WASHINGTON, Feb. 20, 2024 /PRNewswire/ -- 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.

Ari Azarbarzin, senior vice president in the Baltimore office of Northmarq, has helped lead a "build-to-rent" team that completed the sale of West Wind, a 95-unit, build-to-rent community in Stephens City, VA, located near Winchester, VA. Build-to-rent acquisition opportunities are rare in Virginia and the Mid-Atlantic region at this time.

A Northmarq specialty "build-to-rent" team -- led by senior vice president Ari Azarbarzin -- has completed the sale of West Wind, a 95-unit, build-to-rent community in Stephens City, a northern Virginia town located 14 miles south of Winchester, VA. The property was built in 2023.

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.

About Northmarq
Northmarq is a full-service capital markets resource for commercial real estate investors, offering seamless collaboration with top experts in debt, equity, investment sales and loan servicing. We combine industry-leading capabilities with a flexible structure, enabling our national team of experienced professionals to create innovative solutions for clients. Our solid foundation and entrepreneurial approach have built an annual transaction volume of more than $37 billion and a loan servicing portfolio of nearly $76 billion. Through the 2022 acquisition of Stan Johnson Company and Four Pillars Capital Markets, Northmarq introduces clients to expanded opportunities across all major asset classes. For more information, visit www.Northmarq.com.

Media contact:
Steve Vitoff
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SOURCE Northmarq