KLNB Multifamily Capital Markets Group secures $26.5M sale of townhome community

Hampton, VA — KLNB has arranged the $26.5 million sale of Avalon Townhomes, a 182-unit townhome community located in Hampton. The property was sold by West End Capital Group and acquired by Two Rivers Realty Partners in partnership with Rock Creek Property Group. The transaction was led by KLNB principal Rawles Wilcox and KLNB senior vice president Jared Emery of the firm’s Multifamily Capital Markets Group. KLNB represented the seller.

Originally built in the 1970s and significantly renovated in recent years, Avalon Townhomes offers a compelling mix of two-, three- and large four-bedroom floor plans. Each unit features spacious interiors, private driveways, and thoughtfully upgraded finishes. The community is nestled within a quiet residential corridor, offering a rare combination of suburban charm and direct access to key employment centers, retail, and major transportation routes.

“Avalon Townhomes presented a rare opportunity to acquire a sizable townhome community at an attractive basis in one of Hampton Roads’ most dynamic submarkets,” said KLNB’s Rawles Wilcox. “The buyer recognized the value of both the in-place renovations and the upside from continued unit repositioning and capital improvements. We’re excited to see the next phase of Avalon’s story unfold under new ownership.”

The new ownership group plans to build on the strong foundation established by West End Capital Group, with a focus on completing remaining interior upgrades, improving amenity offerings, and enhancing operational efficiencies to better serve residents and drive long-term value.

“This transaction reflects the sustained interest in high-quality, workforce housing communities with long-term upside,” adds KLNB’s Jared Emery, who brokered the sale. “Avalon Townhomes’ strong in-place performance and strategic location made it a compelling opportunity for both buyer and seller.”

Avalon Townhomes is located just minutes from Langley Air Force Base, the Hampton Coliseum, and the Peninsula Town Center, providing unmatched accessibility to both public and private sector employment hubs.