VIRGINIA BEACH, VA (March 25, 2025) – Croatan Investments (“Croatan”), a rental housing investment manager serving private wealth and institutional capital, completed a recapitalization of Trail Creek, a 300-unit townhome apartment community in the Norfolk-Virginia Beach MSA with a new joint venture partner, a leading investment manager specializing in private equity real estate investing throughout the U.S.
Croatan's Outlook
“Trail Creek is strategically located in Hampton, VA, near some of the market’s top employers,” said Croatan’s Chris Madden. “The community holds a distinct competitive advantage, offering two- and three-level townhome units with attached garages in a low-density setting — a truly differentiated product compared to most of the market.”
A truly differentiated product compared to most of the market.
The property was previously purchased by Croatan and joint venture partner, JSB Capital Group, in October of 2018. During the approximately 6-year hold, Croatan performed a value-add business plan, renovating and upgrading amenities such as the clubhouse, fitness center, and pet park, as well as renovating a third of the apartment units. The new venture’s business plan for the property includes a continuation of the interior unit upgrades as well as select curb appeal and amenity enhancements.
“At Croatan, we remain focused on executing our business plan with a commitment to excellence,” said CEO Paul Van. “Alongside our new partner, we are well-positioned to continue creating value and capitalize on the opportunities ahead.”