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12/26/2012 - THE BREEDEN COMPANY CLOSES ON $6.5 MILLION LAND DEAL IN CHESAPEAKE

The Breeden Company closes on $6.5 million land deal in Chesapeake

The Breeden Company closes on $6.5 million land deal in Chesapeake


FOR IMMEDIATE RELEASE:

The Breeden Company closes on $6.5 million land deal in Chesapeake

Chesapeake, VA – December 26th, 2012 –
The Breeden Company has reached a new milestone in the process of constructing their newest residential property in Chesapeake, Virginia. The land encompasses 16 acres and was purchased for $6.5 million dollars.

Located at the intersection of the Chesapeake Expressway and Hillcrest Parkway within the Edinburgh neighborhood, The Breeden Company closed on the land on December 7th, 2012 and is expected to begin construction of Red Knot at Edinburgh in March 2013. The upscale AAA rated luxury apartment community will feature 336 units and will consist of one, two, and three bedroom units.

The property will be developed, owned and managed by The Breeden Company and will offer resort style amenities that will continue to define the “Enriched Lifestyle” community concept established by The Breeden Company fitting into the existing portfolio of elite apartment communities.      

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 800 planned units, two million square feet of commercial shopping center space, 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.
                                                           

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Media Contacts:
The Breeden Company

Barry W. Tomlin

Vice President of Operations and Marketing

The Breeden Company

757-486-1000

Barryt@thebreedencompany.com