Rollingwood Apartments, Seven Gables Apartments foreclosed
The 1,184-unit Seven Gables Apartments in Eastern Henrico. (Photo by David Larter) Two suburban Richmond apartment complexes have become entangled in the collapse of an Australian real estate company . The 278- unit Rollingwood Apartments in Chesterfield and the 297 1,184 -unit Seven Gables Apartments in Eastern Henrico are headed to foreclosure and will be auctioned Jan. 11 on the their respective counties’ courthouse steps. Both complexes are tied to the defunct Babcock & Brown, a massive real estate and infrastructure investment group once valued at $10 billion that went belly up in 2009. The two properties are part of a Babcock & Brown loan pool valued at about $200 million that included multiple properties and was ordered into liquidation. The two local complexes are held jointly by two entities: PP2 FX2 Limited Partnership and Everest PP2 FX2 Limited Partnership . South Carolina- based real estate firm Greystar is managing the properties. The company declined ...