Summit-headquartered real estate firm The Solomon Organization is continuing to broaden its regional footprint beyond New Jersey, announcing the $143 million acquisition of two major multifamily communities in Henrico County’s West End near Richmond, Virginia.
The purchase includes the 360-unit Broadmoor Apartments and the 388-unit Tuckahoe Creek Apartments, bringing a combined 748 units into the New Jersey developer’s growing multi-state portfolio.
Founded in 1977, The Solomon Organization has long been a major presence in New Jersey’s commercial real estate sector, operating as a leading owner and manager of workforce and middle-market housing. The firm currently owns and manages more than 23,000 residential units across 10 states, including extensive holdings throughout New Jersey, New York, Pennsylvania, and the Mid-Atlantic.
The Richmond transaction represents a strategic expansion for the Summit-based team, establishing a scalable platform in a region characterized by low unemployment, strong job growth, and favorable supply-and-demand metrics compared to other oversaturated Sunbelt markets.
“This acquisition gives us immediate scale in a market with healthy fundamentals and a large workforce resident base,” Zach Solomon, principal of The Solomon Organization, said. “We have demonstrated the ability to acquire and improve well-located communities even in a higher-interest-rate environment, and we see the same opportunity here as the foundation for further investment in the region.”
Following the model it has deployed across its East Coast properties, Solomon plans to execute a comprehensive value-add program at both Virginia sites. The planned investment will include interior and exterior renovations, property-level operational enhancements, and hands-on management designed to boost asset performance and resident satisfaction.
Both newly acquired communities cater to middle-market residents and offer direct access to key commercial hubs, including Interstate 64, the Innsbrook business district, and the Short Pump Town Center retail corridor.
The $143 million transaction comes on the heels of a landmark year for the New Jersey real estate firm, which completed over $1 billion in total real estate transactions in 2025. The buy expands Solomon’s Virginia presence to nine total communities while reinforcing the company’s position as one of New Jersey’s most active regional multifamily operators.
