Castle Lanterra Completes Sale of 224-Unit Residential Property in Suffolk
Why this matters
Multifamily has been the most actively underwritten sector through the rate cycle, with cap rate compression resuming in Sun Belt and gateway markets as 2024-2025 deliveries roll off and refinance demand on 2021-vintage bridge loans clears. Transaction velocity is up modestly, concentrated in stabilized Class A and grocery-adjacent garden assets. Allocators continue to favor residential for its income durability and its insulation from secular demand questions that still hang over commercial sectors.
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On the RET wire
- Disclosed multifamily deal value tracked in September 2026: $11.6B across 138 reported transactions. All Multifamily coverage →
Computed from Real Estate Trail’s own tracked coverage
Castle Lanterra announced the sale of Meridian Obici, a 224-unit multifamily community located in Suffolk, Virginia, within the Hampton Roads metropolitan area. Completed in 2016, Meridian Obici is a highly amenitized…
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