Pinetree Apartments

Pinetree Apartments was acquired on August 29, 2024, as part of a two-property portfolio including Clearfield Apartments in Colonial Heights, VA.  The property was purchased as part of an expanding LIHTC (Low Income Housing Tax Credit) portfolio.  The business plan is to maintain a strong occupancy, with light capital expenditure projects that will enhance and preserve the asset.     

Built in 1995, the 144-unit apartment community is located in Petersburg, VA, a desirable suburb bedroom community located a 30-minute drive to Richmond International Airport.  The property is a mix of one-, two-, and three-bedroom apartments that include a patio or balcony and washer and dryer connections. The community amenities include a pool, playground, fitness center, and laundry facility.  

The property is located near the intersection of Interstate 95 and Interstate 85 and within three miles of public schools and a 10-minute drive to Southpark Mall, a shopping center with over 80 retailers and several restaurants.  There is a bus stop located outside the entrance of the property and an Amtrak Train station 7 miles away.  There are several major employers in the area: General Dynamics, Bon Secours – Southside Medical Center, and DuPont.

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Amenities:

• Swimming Pool
• Clubhouse with Community Room
• 24-Hour Fitness Center
• Playground
• Pet-friendly Community
• Clothes Care Center
• 24-Hour Emergency Maintenance
• Housing Vouchers & Credit Card Payments Accepted
• Friendly, Professional Staff