Specialized Multifamily Partners, an investment vehicle sponsored by Acento Real Estate Partners and BTG Pactual, is pleased to announce the acquisition of Wellington Woods.
Wellington Woods is a 116-unit workforce multifamily housing community in Fredericksburg, VA, built in 1972. The asset features a unit mix of 21% 1×1 units and 42% 2×1 units, and 37% 3×2 units.
Fredericksburg, VA, is home to approximately 29 000 residents. It has long been an essential center for industry and commerce due mainly to its strategic position between Richmond, VA, and Washington, D.C., as a crossroads for highway, rail, and water-based transportation. Positioned along the East Coast’s busiest interstate, I 95, the city is also accessible via State Route 3 and U.S. Route 1. The location of a vibrant business community, major employers in the city include Mary Washington Hospital, the University of Mary Washington, the City of Fredericksburg, Medicorp Health System, and Fredericksburg City Public Schools.
The following amenities are offered in Wellington Woods to enhance the living experience of its tenants:
• On site bilingual management and maintenance team.
• Laundry facilities.
• Pool & sundeck.
Wellington Woods marks the sixth asset acquired by Specialized Multifamily Partners.