Maryland-based Lerner Corp. has sold a three property, multifamily portfolio for a combined $68.5 million to Drucker & Falk/LEM Capital. The 710 unit portfolio traded for just under $96,480 per unit. The properties acquired include the Wilde Lake Apartments, a 190 unit community located in Henrico County, The Hanover Crossing Apartments which boasts 220 units in Mechanicsville and the 300 unit Chesapeake Bay Apartments located at 550 St. Michaels Way in Newport News. Charles Wentworth of CBRE|Richmond, Dan Johnson of CBRE|Hampton Roads, and Andy Boyer with the CBRE office in Washington D.C. represented the seller in this transaction.
