National Property Management Company Now Overseeing Five Multifamily Communities Across Virginia for the Ownership Group
At the end of 2021, Capital Square purchased Artistry at Winterfield located in Midlothian, VA for a noteworthy $62.2 MILLION. Shortly after in early 2022, Drucker + Falk (DF) was named managing agent for the community and represented the second asset owned by Capital Square that the company was tapped to manage. Since this assumption, three additional Capital Square communities have been added to DF’s management portfolio, which are located across the Richmond and Hampton Roads areas of Virginia.
Artistry at Winterfield is Powhatan County’s first apartment community, consisting of 200 new one and two-bedroom units. The luxury community features a resort-style swimming pool, wellness center with a Technogym Fitness Studio and Mirror On-Demand Virtual Fitness Trainer, 24-Hour Clubhouse, Luxer One Package system, and offers residents the additional convenience of co-working spaces, electric car charging stations, and a pet spa.
With the property 72% leased at takeover, DF was tasked to complete the lease-up and ultimately stabilize the property to ensure ownership’s investment goals were achieved. With a focus on resident satisfaction, the completion of the initial business plan was done within just 5 months.
Regarding the recent assumption, Andrew Chisholm, Director of Multifamily Management for Drucker + Falk shared, “Capital Square has been an amazing client to work with and we couldn’t be happier to expand our relationship with them with the addition of Artistry at Winterfield. This beautiful apartment community is in a market we are extremely familiar with and are eager to put the DF management stamp on – delivering five star experiences across the board for residents.”
ABOUT DRUCKER + FALK
Founded in 1938, Drucker + Falk is a full-service real estate and investment firm managing a diverse portfolio of approximately 40,000 apartment homes and 3,000,000 square feet of office, retail, and industrial properties in twelve states. In addition to managing a broad range of properties, including class A+ to affordable apartment communities, mixed-use and all types of commercial properties, Drucker + Falk offers commercial leasing and sales services and partners with clients on developing new properties, renovating, and repositioning assets, converting historic properties to unique, upscale apartment homes. For more information visit Drucker + Falk.