Three new Virginia Beach apartment complexes on horizon

Three new Virginia Beach apartment complexes on horizon

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The Franklin Johnston Group, at 6 years old now, continues to grow by leaps and bounds.

The multifamily development and property management company is bringing three new apartment communities to Virginia Beach this year: Coastal 61 at Oxford Village, Two Hundred West and The Renaissance.

The group began operations May 1, 2013, with 24 managed properties.

It added 20 new properties to its portfolio in 2018. Today it owns and manages more than 16,000 units at 95 properties in seven states from Washington, D.C., to Atlanta.

“We’re a development and management company and development is certainly an area that allows our company to grow both development-wise and through our management portfolio expanding,” said Tom Johnston, chief development officer. “Development is driving growth, but so is management of other portfolios for other owners.”

The company’s assets exceed $1.8 billion with an additional $200 million in development under way.

Taylor Franklin, chief operating officer said the company manages property up and down the East Coast.

“Our team members are some of the best in the multifamily industry; we’ve gone into a lot of the greatest minds in Hampton Roads and Virginia to help us grow the company and we want to live by the core value that we have, which is people are our passion.”

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