Portion of New Post development sells for $3.264 million | Apartment Loan Depot Since 2005 – Fannie Mae and Freddie Mac Multifamily Loans Nationwide

(RECAP: A part of the mixed-use New Post on the Rappahannock development in Spotsylvania County was bought by a Charleston-based developer new to the Fredericksburg region. Humanities Foundation bought 6.27-acres of the development under the name New Post Apartments LLC for $3.264 million in a deal that closed this week with site developer Tricord Cos. The Humanities Foundation plans a 102-unit apartment community which will break ground this fall. Drees Homes also owns a significant part of the development and broke ground recently on its 117-lot residential component, featuring town houses and single family homes. Tricord retains the rest of the property and has plans to build 92 single family homes, 26 of which will be on the Rappahannock River waterfront.)