Norfolk VA (December 14, 2023) – Coro Realty announced the purchase of Woodmere Trace Apartments with Fulton Capital Peak. Woodmere Trace is a 19-acre, 300-unit apartment community located at 6741 E. Tanners Creek Drive, Norfolk Virginia. Ideally situated near the Norfolk Naval Air Station, the Port of Virginia and downtown Norfolk, Woodmere Trace offers quick access to multiple employment centers.
The property is part of Coro Realty’s value-add investment strategy. “We believe that through operational and physical improvements, we can drive meaningful revenue growth and reduce operating expenses,” said Robert Fransen, President of Coro Realty. “We are pleased to add it to Coro Realty’s multifamily portfolio.”
Woodmere Trace was 98% leased at purchase. Coro, together with its partner, Fulton Peak Capital, intends to upgrade Woodmere Trace’s common areas, unit interiors and amenities.
About Coro Realty
Coro Realty was founded in 1997 and is synonymous with intelligent real estate development and investment. With a commitment to smart growth, the urban landscape and innovation, Coro Realty continues to demonstrate its leadership in the market with the successful execution of quality investments. It provides investment, asset management, leasing and property management for a myriad of commercial and residential properties throughout the Southeastern United States. Coro Realty oversees approximately 50 properties valued in excess of a billion dollars. For more information, visit cororealty.com
Media contact: Thornton Kennedy, (404) 210-0363, thornton@prsouth.net