Croatan Investments closed on the purchase of Waypoint at Hampton, a 210-unit class B apartment community located in Hampton, Virginia.
The property has been renamed Luna Pointe Apartments. Along with the name change, the company intends to start upgrading the property immediately. Croatan will kick off a Green initiative to replace existing plumbing with low-flow, water saving devices in all the apartment units. The common areas and building exteriors will be upgraded. There will be improvements to the pool area with new lush outdoor patio furniture, an expanded clubhouse and fitness center, a community fire pit and sitting area, landscape improvements and addition balcony accents and new exterior color scheme to the buildings. Each unit interior will receive premium silver or black appliances, brushed nickel hardware, modern lighting packages and upgraded flooring. Croatan has been exceptionally effective at improving the operations of their assets and realizing their profit potential.
Paul Van, Managing Partner of Croatan Investments, sticks to the company’s mantra of “maintaining our portfolio to their existing high standard and beyond.” Croatan Investments continues to evaluate Hampton Roads for opportunities and believes the local economy will increase in tandem with growth in the port and potential increases in the defense spending.
About Croatan Investments
Croatan Investments is a privately-held investment firm focused on multifamily real estate. The company pursues investments with excellent intrinsic value and the goal of creating and preserving the wealth of its high-net-worth investors and institutional partners.
With a seasoned team of real estate, construction, and project management professionals, Croatan combines specialized multifamily asset experience and market knowledge to opportunistically invest across each stage of the market cycle.
Croatan is headquartered in Virginia Beach with operations in Atlanta, Austin, and Singapore. The Croatan portfolio currently includes multifamily assets across the Mid-Atlantic and Sun Belt.