The Winfield
- In a partnership with United Methodist Family Services (UMFS), Spy Rock signed a 99-year prepaid ground lease for 5.91 acres adjacent to Scott’s Addition
- The plan of development is to build 250 Class-A apartments with 15,700 SF of ground floor commercial and 128-key limited service hotel
- Acquisition date: August 2019
- Multifamily construction start: December 2016
- Multifamily occupancy start: Summer 2021
- Acquisition Bridge Lender: TowneBank
- Multifamily construction/Permanent financing: Virginia Housing Development Authority
- Hotel construction financing: TBD
Lake Wright Quality Suites and Sleep Inn
- Acquisition, renovation and repositioning of two existing hotels in Norfolk, VA
- Adjacent to a newly built 330,000 SF Simon Outlet Mall, the to-be-built Ikea Norfolk and the Norfolk Airport
- 107 Room Sleep Inn and 127 Room Quality Suites
- Additional site development potential for hotel and retail
- Acquisition: September 2016