Newmark Arranges $108 Million Sale of Bainbridge Midlothian, Class A Multifamily Community in Virginia

October 23, 2026 9:00 AM

Newmark announces the Company has arranged the $107.7 million sale of Bainbridge Midlothian, a 310-unit Class A multifamily community located in Midlothian, Virginia. Frontier Group of Companies acquired the property from a joint venture between The Bainbridge Companies and BVT National Partners, marking the buyer's first multifamily acquisition in Virginia.

"In today's capital markets environment, the sale of Bainbridge Midlothian demonstrates that best-in-class product, built and operated at a high level, continues to command premium valuations. It's also a testament to our development, construction and management teams, our partners at BVT, and the investment sales team at Newmark," said Jake Wright, President of Capital Markets at Bainbridge.

Newmark Multifamily Capital Markets Executive Managing Directors Charles Wentworth and Victoria Pickett led the transaction on behalf of the seller, alongside Senior Managing Director Garrison Gore.

"Bainbridge Midlothian's record-setting pricing reflects continued investor demand for newly constructed, high-quality multifamily assets in Richmond's established suburban markets," said Gore. "The property's strong leasing performance, modern construction and location within one of the region's most desirable residential corridors made it an attractive investment opportunity.

Completed in 2024, Bainbridge Midlothian is situated on approximately 25.8 acres at 12400 Dutton Road in Chesterfield County. The community comprises four residential buildings featuring a mix of studio, one-, two- and three-bedroom apartments with an average unit size of 1,017 square feet. Residences feature open-concept floor plans, quartz countertops, stainless steel appliances, smart-home technology and hardwood-style flooring. Community amenities include a resort-style saltwater swimming pool, 24-hour fitness center, clubhouse, coworking spaces, pickleball court, dog park and private wooded walking trails.

Located in one of Richmond's established suburban residential corridors, Bainbridge Midlothian benefits from convenient access to major transportation routes, including Route 288 and Midlothian Turnpike, providing connectivity throughout the greater Richmond region. The property is surrounded by an extensive concentration of retail, dining and employment destinations, including Wegmans anchored Stonehenge Village, Westchester Commons and Chesterfield Towne Center.

About Bainbridge
The Bainbridge Companies LLC (Bainbridge) is a multifamily real estate company that has developed and acquired more than 43,000 apartment homes representing more than $8.4 billion in transactions since its inception in 1997. With over 500 associates nationally, Bainbridge engages in every step of the real estate process, from development and construction, acquisition, and disposition to asset management and property management of multifamily real estate. Bainbridge is headquartered in Wellington, Fla., and has offices in Atlanta, DC Metro, Charlotte, Orlando, Raleigh, and Tampa. Learn more about Bainbridge at www.bainbridgecompanies.com.

About BVT
BVT is a German-based real estate investment manager with 50 years of experience in structuring and managing institutional real estate investments across the United States. Headquartered in Atlanta, GA and Munich Germany, BVT selectively provides joint venture equity for luxury multifamily developments, partnering with best-in-class developers in institutional markets characterized by sustainable rent growth and favorable demographic trends. To date, the BVT Residential USA fund series has developed a multifamily portfolio of 35 properties totaling more than 10,700 units, representing $2.6 billion in project value. To learn more, visit www.bvt.com.

About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leading commercial real estate advisor and service provider to large institutional investors and other owners, global corporations and other occupiers, and lenders. Built with purpose and driven by excellence, Newmark's comprehensive platform is uniquely tailored to provide superior outcomes to clients. For the twelve months ended June 30, 2026, Newmark generated revenues of more than $3.6 billion. As of June 30, 2026, Newmark and its business partners together operated from over 195 offices with more than 10,000 professionals across four continents. Learn more at nmrk.com or follow @newmark.

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