Colliers Virginia is pleased to announce the sale of Ludwell Apartments from Gumenick Properties to Thalhimer Realty Partners.
Thalhimer acquired the 118-unit / 160-bed property located in historic Colonial Williamsburg at The College of William and Mary. Ludwell Apartments offers meticulously maintained one- and two-bedroom units near the prestigious Mason School of Business and the Fine and Performing Arts Center.
“Despite recent turmoil in the capital markets, the sale of Ludwell Apartments proceeded without setbacks. Having recently worked with both Seller and Purchaser we were confident of a smooth transaction and were proven correct.” – G.S. (Hank) Hankins
Previous owners, Gumenick Properties, well positioned Ludwell for long term growth and strong returns. The new owners will capitalize on a master lease by the College of William and Mary with a unique opportunity for reliable revenue without risk of vacancy or collection loss.
G.S. (Hank) Hankins, executive vice president; Victoria Pickett, senior vice president; Charles Wentworth, executive vice president; and Garrison Gore, vice president, with the Colliers Virginia Multifamily Team represented the sellers in the transaction.
About Colliers
Colliers (NASDAQ, TSX: CIGI) is a leading diversified professional services and investment management company. With operations in 67 countries, our more than 15,000 enterprising professionals work collaboratively to provide expert advice to real estate occupiers, owners and investors. For more than 25 years, our experienced leadership with significant insider ownership has delivered compound annual investment returns of almost 20% for shareholders. With annualized revenues of $3.0 billion ($3.3 billion including affiliates) and $40 billion of assets under management, we maximize the potential of property and accelerate the success of our clients and our people. Learn more at corporate.colliers.com, Twitter @Colliers or LinkedIn
