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Chester apartment complex buyer sells Midlothian apartments for $67M
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Note: This story has been revised from its original version.
Two weeks after picking up an apartment complex in Chester, a California-based firm has unloaded a larger property in Midlothian.
An entity tied to Fairfield Residential on Wednesday sold the 296-unit Belvedere Apartments at 11900 Bellaverde Circle for $67.35 million. The 22-acre property, off Robious Road just south of Huguenot Road, was most recently assessed by Chesterfield County at about $45 million.
The sale price amounts to $227,500 per door. The selling entity, AERC Belvedere LLC, had owned Belvedere since 2008, when it purchased it for $43.2 million, county records show. Fairfield’s San Diego address is listed as the LLC’s principal office in filings with the State Corporation Commission.