Foxfield announces acquisition of Metropolis at Innsbrook in Glen Allen, VA

Newmark leads multifamily deal as firm grows Mid-Atlantic holdings

RICHMOND, VA — Foxfield announced the acquisition of Metropolis at Innsbrook, a 402-unit luxury multifamily community located in Glen Allen – a premier submarket north of Richmond. Originally delivered in 2023 and currently 96% occupied, Metropolis at Innsbrook adds to Foxfield’s growing residential portfolio and further strengthens the firm’s presence in the Mid-Atlantic market.

Strategically located in the Innsbrook Office Park, one of the region’s top business centers, the site offers direct access to major corporate headquarters and high-end retail destinations in both Innsbrook and the adjacent Short Pump area. Metropolis at Innsbrook offers an array of best-in-class amenities, contemporary finishes, and access to all that Greater Richmond has to offer via the site’s prime location.

“This acquisition offers a rare opportunity to secure a newly built, class A asset in a supply-constrained market at a significant discount to current replacement cost,” said Noam Kleinman, principal at Foxfield. “It enables us to achieve value-add-level returns while benefiting from the stability and strong cash flow of a core-quality property.”

The sale was brokered by Newmark’s Virginia Multifamily Investment Sales team, including Charles Wentworth, Victoria Pickett, and Garrison Gore, as well as Eric DeStefano of Newmark’s Debt & Structured Finance team.