In November 2020, Blackfin acquired Westover Station Apartments, a 108-unit, affordable housing apartment (LIHTC) community in Newport News, VA. The Property has a proven history of strong operations and collections with affordable restrictions set to expire in 2025. Westover Station was developed in 1991 and has been meticulously maintained by the previous owner, allowing Blackfin to target improving leasing and operations. The asset’s proximity to the Newport News train station, along with short commutes to Norfolk and Hampton, provides employment flexibility and access to growing employment hubs for current and future residents. Renter demand has caused historically low vacancies in the Hampton Roads MSA, which was among the nation’s leading MSAs in year-over-year rent growth at the time of acquisition. Based on these considerations, Blackfin believes the Property is well-positioned to provide a strong and durable cash flow for its investors.  

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https://rentwithwestoverstation.com/