09/25/2026
In Suffolk, VA, Castle Lanterra has sold Meridian Obici, a 224-unit multifamily community it acquired in 2018. Throughout the hold period, Castle Lanterra capitalized on market growth while driving value through operational improvements and strategic physical enhancements.
The highly amenitized building features a resort-style saltwater swimming pool, fitness and business centers, resident entertainment spaces, outdoor kitchens, detached garages, storage units, and a dog park.
"Meridian Obici exemplifies our strategy of identifying high-quality multifamily assets in growing markets and creating value through disciplined asset management and strategic ex*****on," said Elie Rieder, Founder and CEO of CL. "We are pleased to have delivered strong performance for our partners while benefiting from the continued economic expansion and population growth across the Hampton Roads region."