VIRGINIA BEACH, Va., March 17, 2026 — PRG Real Estate, a prominent multifamily real estate investment and management firm, has finalized the acquisition of Herons Point Apartments, a 96-unit garden-style apartment community in Virginia Beach. The off-market transaction further broadens PRG’s presence in the Hampton Roads region.
Constructed in 1989, Herons Point is located directly next to The Courtyards of Chanticleer, a 304-unit community within PRG’s portfolio. The close proximity of the two communities enables PRG to streamline operations, boost efficiency, and utilize shared resources, all while keeping a strong emphasis on providing a high-quality living experience for residents.
Nestled near Linkhorn Bay, Herons Point provides residents with a tranquil waterfront environment, just a short distance from the Virginia Beach Boardwalk, major shopping and dining hubs, and easy access to Norfolk and Hampton. Community features include an on-site swimming pool, as well as access to walking trails and bay fishing, which further enhance its coastal charm.
“Herons Point presents an attractive blend of location, waterfront surroundings, and operational potential. Our strategy involves making focused upgrades to enhance the community while preserving its existing character,” shared PRG Real Estate CEO, Sam Foster. “We remain committed to generating long-term value through consistent execution and an outstanding resident experience,” he added.
Following the Herons Point acquisition, PRG now holds approximately $2.5 billion in multifamily assets, comprising 11,262 units, with an additional 760 units currently under construction.
About PRG Real Estate
PRG Real Estate is a multifamily investment and management firm with a $2.0 billion portfolio of apartment homes spanning 11,000 units, and it employs over 300 people across the country. PRG maintains that an exceptional living experience begins with its team. It fulfills this goal by recruiting and training top industry professionals and fostering a supportive, rewarding work environment that motivates its people to accomplish great feats collectively. For more information on PRG Real Estate, please visit www.prgrealestate.com.
SOURCE PRG Real Estate Management, Inc.