News and Updates
David Walkin of Conserve Holdings and an aerial view of The Gables of Jefferson Commons in Forest, Va. Conserve Holdings has scored $24.9 million of acquisition financing to purchase a Virginia multifamily complex, Commercial Observer has learned. KeyBank Real Estate provided the loan for the real estate investment firm’s acquisition of Echo at Forest View Apartments at 1047 East Lawn Drive in Forest, Va. Conserve Holdings purchased the apartment complex, which part of the Jefferson Commons development, from Maddox Construction for $39.5 million. Article link: https://commercialobserver.com/2025/12/keybank-conserve-holdings-virginia-apartments/
[Toms River, NJ – 11/24/2025] – Conserve Holdings announced today the acquisition of Jefferson Commons , a multifamily community located in Forest, Virginia. The acquisition was brokered by Scott Doyal of Walker & Dunlop , with additional contributions from Base Realty . Financing was secured through Pranav Sarda and the Key Bank Real Estate team . Property management will be overseen by Sharp Management , continuing Conserve’s focus on professional, resident-focused operations. “We are excited to add Jefferson Commons to our portfolio and grateful to the teams at Walker & Dunlop and Base Realty for their roles in this transaction,” said David Walkin, Principal of Conserve Holdings . “This acquisition represents another opportunity to execute our value-add strategy while strengthening our presence in Virginia.” Planned improvements include unit upgrades, amenity enhancements, and operational efficiencies to elevate the resident experience and drive long-term value creation.
A joint venture between Conserve Holdings and Calibogue Capital has landed $28.9 million of acquisition financing to purchase a multifamily asset in Richmond, Va., Commercial Observer has learned. Greystone supplied the five-year, full-term, interest-only Fannie Mae -backed loan for Conserve’s $45 million acquisition of the Sphere property from MVP Equities . Newmark ’s Garrison Gore arranged the transaction, which closed at a 4.81 interest rate, according to Conserve. The 224-unit apartment complex at 2005 Brook Road is adjacent to the 103-unit Spectrum multifamily community that Conserve acquired in November 2024 for an undisclosed purchase price. “Our expansion in Richmond continues with the Sphere, a community that perfectly complements the Spectrum next door,” David Walkin , principal of Conserve Holdings, said in a statement. “This acquisition highlights our belief in Richmond’s long-term growth and underscores our strategy of acquiring high-quality communities in key markets.”
Spartanburg, SC – [10/16/2025] – Conserve Holdings, in partnership with PeakMade Real Estate as property manager, announced the acquisition of Auden Upstate, a 486-bed student housing community serving the University of South Carolina Upstate (USC Upstate). This transaction reflects Conserve’s growing focus on the student housing sector and its continued expansion into high-growth markets.
Richmond, VA – [10/28/2025] – Conserve Holdings announced today the acquisition of The Sphere, a Class A, 224-unit, multifamily community in Richmond, Virginia. This marks Conserve’s second acquisition in the Richmond market, following the recent purchase of The Spectrum, which is located directly adjacent to The Sphere.
BISWIRE/Oct. 19, 2025 — Conserve Holdings (“Conserve”), a vertically integrated real estate investment and management firm, today announced the successful recapitalization of Cottage Trails Apartments, a 187-unit Class A luxury multifamily community in Chesapeake, Virginia, through a joint venture with MLG Capital.
Chesapeake, VA — 9/28/2025 — Conserve Holdings (“Conserve”), a vertically integrated real estate investment and management firm, today announced the successful recapitalization of Cottage Trails Apartments , a 187-unit Class A luxury multifamily community in Chesapeake, Virginia, through a joint venture with MLG Capital.
JAMES CITY — A property management and development firm hopes to bring more apartments to central James City County — including affordable units — by transforming a hotel with a distinctive historical feature. New Jersey-based Conserve Holdings is asking the county’s Board of Supervisors to approve a rezoning that would allow for a complete overhaul of the Fort Magruder Hotel and Conference Center, located at 6945 Pocahontas Trail. The proposed master plan calls for 32,000 square feet of commercial space in what is now the property’s conference center and the conversion of the hotel’s 303 guestrooms into 126 apartments. A major component of the proposed redevelopment is affordable housing. Conserve Holdings’ plan calls for 40% of the units to be offered to renters meeting specific income thresholds. Conserve Holdings already owns and manages Grand Village at Williamsburg, a rental community next door to the Fort Magruder Hotel. The county’s planning commission unanimously voted to recommended approval of the rezoning at its April 2 meeting. The Board of Supervisors will consider the rezoning application at its May 13 meeting.
Conserve Holdings has nabbed $23.2 million of acquisition financing to purchase a South Carolina multifamily asset, Commercial Observer has learned. Arbor Realty Trust (ABR) provided the three-year, nonrecourse loan on the real estate investor’s $32.9 million purchase of the 210-unit Cove at Ridge property in Lyman, S.C., from Universal Development & Construction . Stephen York , managing director at Arbor, originated the floating-rate loan. David Walkin , founding partner at Conserve Holdings, said the property consists of many townhomes with attached garages, and he stressed there is heavy demand for this type of rental asset that is not widely available in northwest South Carolina. “We’ve been active in the Greenville market since 2020 and I’ve always believed in its long-term potential, even through periods of oversupply and negative rent growth,” Walkin said. “The basis at which we acquired this site is truly unmatched, and we’re excited to continue expanding our footprint in this dynamic market.” Located at 610 Universal Drive just north of U.S. Highway 29, the property previously called Universal at Pine Ridge has amenities that include a fitness center, a pool, an outdoor fire pit, a business center and a clubhouse. The apartment complex is about 30 miles from the North Carolina border, and 90 miles southwest of Charlotte. CBRE (CBRE) ’s John Phoenix arranged the transaction. “As demand for high-quality, affordable housing continues to rise with the Upstate’s booming population and robust job growth,” Phoenix said in a statement referring to the northwest region of South Carolina near Greenville and Spartanburg. “This investment further showcases Conserve’s mission of providing accessible housing options that support Greenville-Spartanburg’s expanding workforce.”