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Colliers International Announces Sale of Carolanne Terrace in Virginia Beach

Colliers International is pleased to announce the sale of Carolanne Terrace, a multifamily community, from B&W Properties to MRKT Capital. 

The community includes 112 spacious two-bedroom, two-bathroom floorplans equipped with stackable washers and dryers. Historically well occupied and often with a tenant waiting list, Carolanne Terrace has tremendous room for revenue growth through a strategic value-add program. 

The property is located at 5528 Carolanne Terrace in Virginia Beach between the Virginia Beach Town Center and downtown Norfolk offering convenient access to major employers and the region’s top retail. 

G.S. (Hank) Hankins, senior vice president; Victoria Pickett, first vice president; Charles Wentworth, senior vice president; Will Mathews, managing director; Clay Ellis, associate; and Garrison Gore, associate, with the Colliers National Multifamily Advisory Group represented the seller. 

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George Hankins

Executive Vice President

Norfolk - Main

George Hankins (Hank) is a Senior Vice President of Investment Properties, specializing in the execution of multifamily property sales throughout the Hampton Roads metropolitan area. Hank is an integral part of the underwriting, marketing and sales process for multifamily properties and promotes Colliers' platform in the Southeastern region of Virginia. 

During his career, Hankins has been involved in more than $1 billion in multifamily sales throughout the Hampton Roads and Richmond markets. In addition to dispositions, Hankins has also held the role as principal partner for Croatan Investments, leading their acquisitions team as it closed $125 million in multifamily property transactions in Virginia and North Carolina in a two-year period.

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Will Mathews

Vice Chair, Principal

Atlanta

Will Mathews is primarily responsible for procuring, executing, and closing multifamily investment sale transactions throughout the United States. Mr. Mathews specializes in institutional and private capital multifamily sales and the placement of equity and debt capital. Since joining Colliers in January of 2012, he has assisted with the sale of over 73,000 apartment units totaling $7.5 billion. Routinely recognized by Colliers as a top producer nationally, Mr. Mathews sits on the Colliers U.S. Capital Markets Board as an advisor and multifamily lead. With $2.5 billion in sales over the last 12 months, encompassing 15 States plus The Bahamas, Mr. Mathews accelerates client success by sourcing out-of-market buyers with discretionary capital.

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Clay Ellis

Associate Vice President

Tysons Corner

In 2018, Clay joined Colliers International as an investment sales professional. During his time at Colliers, Clay has facilitated the sale of assets totaling over $820M in value.  His transaction experience spans across the Mid-Atlantic region with a focus on the DC Metro region. Clay specializes in the investment sales of industrial, land and multifamily properties. His clients have been institutional investors, private capital investors, REITs, and foreign capital investors. Clay’s previous clients include but are not limited to organizations like Bonaventure, Greystar, Capital Square 1031, Bristol Development, DRA, and Bainbridge. 

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