High-End Community Opens in Hampton Roads

The 240-unit upscale property is owned and managed by Virginia Beach-based Franklin Johnston Group.

Virginia Beach, Va.—The 240-unit Southern Pine luxury community in Virginia Beach recently held its official opening, pilotonline.com reports.

Owned and managed by the Franklin Johnston Group, the property is located at 2520 Allie Nicole Circle and encompasses a mix of one-, two- and three-bedroom apartments. Southern Pine offers six floor plans with an average unit size of 1,290 square feet and an average monthly rent of $1,534. Located between the Virginia Beach National Golf Club and Courthouse Marketplace, the Hampton Roads community is close to the intersection of Princess Ann Road/Route 165 and Nimmo Parkway.

Sitting on 15.7 acres, the pet-friendly property offers a plethora of high-end amenities, including a resort-style swimming pool, a two-lane bowling alley, a two-story clubhouse, a 24-hour fitness center, a tanning salon, a conference room, a waterfront pavilion and two ponds.

According to Yardi Matrix data, Southern Pine is subject to a $36.5 million, 3.97 percent fixed-interest HUD construction loan originated by Wells Fargo in June 2015.

The Virginia Beach-based Franklin Johnston Group currently holds a 51-property portfolio, with most assets being concentrated in the Hampton Roads area, Richmond, Northern Virginia and Atlanta.

Mention courtesy of multihousingnews.com

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