District 757 at 6163 Kempsville Circle in Norfolk, Virginia — Courtesy: Kushner
By Joshua Burd
Kushner has expanded its holdings outside New Jersey, acquiring a 295-unit multifamily property in southeastern Virginia that opened its doors last year.
The firm said the asset, located at 6163 Kempsville Circle in Norfolk, is part of the city’s Midtown Medical District and directly across from Sentara Leigh Hospital. It’s also minutes from downtown Norfolk and Virginia Beach and part of a vibrant employment corridor that includes other hospitals, Naval Station Norfolk and more than 62,000 military jobs.
Kushner acquired the former Livano Norfolk from LIV Development and has since rebranded it as District 757, a name that reflects the vitality of downtown Norfolk and the broader character of the Hampton Roads region, according to a news release. Berkadia brokered the sale, terms of which were not disclosed, and arranged financing with Fannie Mae.
“This is a standout property in a market supported by durable economic drivers and a growing population,” Kushner CEO Laurent Morali said. “District 757 aligns perfectly with our strategy of acquiring high-performing assets that we can hold long-term while enhancing the resident experience through our management expertise and scale.”
The firm added that the deal expands its Hampton Roads footprint to more than 1,000 units, leveraging the region’s strong employment fundamentals in the medical and military sectors. It will now integrate the community into the Westminster Management portfolio, bringing its established operational platform and service standards to the property.
Completed in 2024 and currently 96 percent leased, District 757 has 297,436 square feet of rentable space across a mix of high-end studios, one-bedroom, two-bedroom and three-bedroom units ranging from 614 to 1,645 square feet, the news release. Amenities include a 12,000-square-foot clubhouse with an entertainment kitchen, lounge areas and gaming spaces and a year-round resort-style pool with a sundeck, a fire sculpture and a grilling area, plus a fitness center, a sky lounge and coworking suites with private offices, a conference room and a business center, among others.
