Colliers Arranges $115M Sale of 2000 West Creek as Weinstein Properties Acquires Richmond Luxury Multifamily Asset from Capital Square

RICHMOND, Va., July 1, 2026 — Colliers has arranged the $115 million off-market sale of 2000 West Creek, a 373-unit luxury multifamily community in Goochland County, Virginia, in a transaction the firm describes as among the largest multifamily sales in Richmond's history. Weinstein Properties acquired the asset from Capital Square, with Colliers representing the seller.

The deal closed at an implied price of approximately $308,300 per unit, based on the 373-unit count disclosed by Colliers. The transaction was structured off-market.

Asset Overview: Scale and Positioning in Goochland County

The community spans approximately 23.9 acres and comprises 373 apartment and townhome residences developed in 2018. Units average 1,001 square feet across the broader portfolio, while the property's 16 townhome residences average 1,757 square feet — a product type Colliers characterized as rare within the Richmond multifamily market.

Interior finishes include quartz countertops, hardwood-style flooring and stainless-steel appliances. Community amenities include a resort-style swimming pool, fitness center, clubhouse, dog park and bocce court.

Goochland County commands the highest apartment rents in the Richmond region, averaging approximately $1,957 per unit, according to Colliers. Average household incomes within a five-mile radius are approximately $173,700, and submarket occupancy stands at 95.4%, the firm noted.

Employment Corridor Drives Location Thesis

2000 West Creek sits within the 3,500-acre West Creek Business Park along Route 288, one of Central Virginia's primary employment corridors. The business park is anchored by Capital One's flagship campus, which employs approximately 14,000 workers, and the Federal Reserve Bank of Richmond's West Creek Operations Center.

The property is also directly adjacent to a planned $5 billion pharmaceutical manufacturing facility by Eli Lilly, which is expected to generate more than 650 permanent jobs upon completion, according to Colliers.

"The combination of institutional-quality construction, exceptional demographics, limited new multifamily supply and immediate proximity to transformative employment drivers created a uniquely compelling investment opportunity," said Will Mathews, Vice Chair and U.S. Capital Markets Board of Advisors Multifamily Transaction Lead at Colliers. "Investor demand reflected West Creek's position as one of the highest-quality apartment communities in the Richmond market."

Colliers Team and Transaction Structure

Will Mathews, Thomas Leachman, Senior Vice President of the National Multifamily Advisory Group, and William Dickinson, Associate, led the Colliers team representing Capital Square in the disposition. The transaction was conducted off-market.

Richmond Multifamily Market Outlook

Colliers cited favorable regional fundamentals as a backdrop for the transaction. Richmond is projected to achieve annual rent growth of 3.21% between 2027 and 2030, outpacing markets including Nashville, Raleigh, Atlanta and Washington, D.C., according to the firm. The region continues to benefit from in-migration, a diversifying employment base and a cost-of-living profile that attracts residents from higher-cost Northeast and Mid-Atlantic markets, Colliers noted.

Limited new multifamily supply in Goochland County and the broader West Creek submarket, combined with the proximity to large-scale employment anchors, underpinned investor interest in the asset, according to Colliers.

Colliers is a global professional services and investment management company with $5.7 billion in annual revenues, 24,000 professionals and $109 billion in assets under management.

Sources

Colliers — Colliers arranges $115M sale of 2000 West Creek in one of Richmond's largest multifamily transactions (July 1, 2026)