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10/26/2012 - THE BREEDEN COMPANY ACQUIRES THE ASHTON PORTFOLIO

The Breeden Company Acquires the Ashton Portfolio

The Breeden Company Acquires the Ashton Portfolio

FOR IMMEDIATE RELEASE:

The Breeden Company Acquires the Ashton Portfolio


Virginia Beach, VA – October 26th, 2012
- One of the mid-Atlantic’s largest real estate companies, The Breeden Company, has recently announced that it has acquired the Ashton portfolio. This portfolio contains three residential properties including Ashton at Oyster Point, Apex at Ashton Green, and Ashton Village.

Located in Newport News, Virginia, Ashton at Oyster Point features 132 units while Apex at Ashton Green features 118 units. Ashton Village, situated in Portsmouth, Virginia has 120 units making this total acquisition one of the largest in the company’s history to occur at once. All of the properties were constructed in the mid 1980s and are in close proximity to major employers in the Hampton Roads area. These properties are also recognized for being at the top of the multi-family markets in the southeast region in terms of rents and occupancy rates.

The $28.5 million acquisition will allow The Breeden Company to add additional value to their pre-existing portfolio of residential communities through a repositioning strategy that involves capital improvements and the implementation of experienced management teams. These investments by The Breeden Company display a heightened awareness for positive indicators for growth in the multi-family sector.

About The Breeden Company


For nearly half a century, The Breeden Company has built a solid reputation in the residential, multi-family, commercial, construction and resort development industries. The company has developed, built and operated over 6,000 apartments with an additional 720 units under construction and 1200 planned units, two million square feet of commercial shopping center, and 1,700 residential homes. The organization’s diverse business model and successful track record has made The Breeden Company a leader in the real estate industry.

Media Contacts:

The Breeden Company

Media Contacts:

The Breeden Company
Barry W. Tomlin
Vice President of Operations and Marketing
The Breeden Company
757-486-1000
Barryt@thebreedencompany.com