Norfolk company to buy $562M portfolio from Virginia Beach’s AH Realty Trust

April 6, 2026 - 06:51

A Norfolk-based company has entered into a significant agreement to purchase a portfolio of 11 multifamily properties from Virginia Beach's AH Realty Trust for $562 million. This substantial acquisition represents the majority of AH Realty's holdings in the residential sector.

The transaction is a strategic move for AH Realty Trust, a real estate investment trust. Company leadership states the sale directly supports key corporate objectives, including simplifying its operational platform and reducing overall financial leverage. By divesting these assets, the trust can sharpen its strategic focus on its core retail property investments.

The properties involved in the deal encompass a substantial number of residential units across multiple states, though the specific locations and the name of the Norfolk purchasing entity were not immediately disclosed in the announcement. The deal highlights ongoing consolidation and strategic repositioning within the real estate investment market, as firms streamline portfolios to align with long-term goals. The transaction is expected to close subject to standard regulatory approvals and customary closing conditions.