S.L. Nusbaum Realty Co. will manage more apartment properties for Armada Hoffler Properties in what is a growing relationship between the two Hampton Roads firms.
S.L. Nusbaum in Norfolk said Monday that it will be responsible for the management of four communities, totaling nearly 1,200 units for Virginia Beach-based Armada Hoffler its partners.
Previously Nusbaum had managed one property, Encore 4505, a 286-unit community in the Town Center of Virginia Beach. The three new properties are:
· The Cosmopolitan Apartments, Virginia Beach, 342 units.
· Town Center Phase VI, Virginia Beach, 130 units.
Upon completion, Armada Hoffler’s third multifamily property in the Town Center of Virginia Beach will offer luxury studios and one-bedroom apartment homes. This new phase of Town Center also will offer retail and restaurant space, an open-air public plaza leading to the Zeiders American Dream Theater and a pedestrian bridge connecting to an adjacent parking garage.
· The Residences at Annapolis Junction, Md., 416 units.
This community is currently leasing in anticipation of initial occupancy in the third quarter of this year. It's located in the newly-developed Annapolis Junction Town Center and is adjacent to the Savage MARC Commuter Rail Station.