The Tuckahoe Creek Apartment Homes are located near the intersection of Three Chopt Road and Forest Avenue. (Mike Platania photos)
To make its entrance into the local market, a Garden State investment firm has splashed nine figures on a pair of West End apartment complexes.
The Solomon Organization recently acquired the Broadmoor Apartments at 9475 W. Broad St. as well as the Tuckahoe Creek Apartments at 1500 Honey Grove Drive for a combined purchase price of $143 million.
The larger of the two deals was for the 388-unit Tuckahoe Creek complex, which spans over 28 acres near Henrico Doctors’ Hospital off Forest Avenue and sold for $74.7 million. The purchase price for the Broadmoor Apartments, which has 360 units, came in at $68.4 million. The per-door sales price fore each deal came in at around $190,000. The two complexes are about four miles apart in western Henrico.
The seller in both deals was Iowa-based firm BH Equities. It had picked both complexes up in the early 2010s amid a $116 million buying spree. BH paid $32.2 million for Broadmoor, and $35.5 million for Tuckahoe Creek.
The two complexes share other similarities. Both are spread across over 10 three-story buildings, they each include a pool and park area, and both date back to the 1980s.
Based out of Summit, a city near Newark in New Jersey, Solomon specializes in suburban multifamily properties, with over 23,000 units in its portfolio nationwide. It has a handful of properties in Southwest Virginia, but the Broadmoor and Tuckahoe Creek deals were its first in the Richmond area.
Solomon closed on both properties Oct. 16, and both went for over $5 million more than their most recent assessed values. The Broadmoor apartments were valued by the county at $63 million, and Tuckahoe Creek was assessed at $68.1 million.
The Broadmoor Apartments had previously sold in 2011 for $32.2 million.
A spokesperson for Solomon said in a statement that the company is planning to renovate the interiors and exteriors of each complex. The company did not respond to an inquiry regarding its budget for the renovation projects or the complexes’ occupancy rates.
Both deals are among the largest local multifamily deals of the year, and were preceded by another big sale in Chesterfield. A day before Solomon’s deal closed, a Buffalo-based firm spent more than $107 million on a Midlothian apartment complex.
The last quarter of 2026 has seen a few other big-ticket real estate deals, such as the $165 million portfolio sale of a group of local nursing homes and the $108 million deal of a Chesterfield warehouse complex.
The post N.J. firm drops $143M for two Henrico apartment complexes appeared first on Richmond BizSense.
