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North Hill Apartments - Virginia Beach, VA

HPP Acquired North Hill Apartments in September 2021 and Recapitalized the property in September 2022 with Machine Investment Group. North Hill is a 148-unit multi-family property located in Virginia Beach, VA. Built in 1985, and renovated and rebranded in 2022, North Hill has 148, 2BD/1BA units, with an average unit size of 858, totaling approximately 126,936 square feet. HPP completed a significant value-add capital expenditure plan, including major unit renovations, adding a state-of-the-art fitness center, enhanced pool area, new dog park, murals by local artists, and upgraded landscaping throughout the property.  Located in one of the strongest markets in the Mid-Atlantic, Hampton Roads apartment market is a leader in market fundamentals, also proximately located 8 minutes from Virginia Beach oceanfront. Conveniently located within the highly desirable Hilltop Retail corridor, the location offers significant lifestyle amenities within walking distance including one of only two Whole Foods Markets in the Hampton Roads region.

Location: Virginia Beach, VA
Date Acquired: September 2021
Date Recapitalized: September 2022
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