Atlanta-based landlord Inspired Real Estate Partners acquired the 250-unit Lakeside Villas Apartment Homes in Hampton for a reported $40 million.  

The acquisition was Inspired Real Estate’s first since it formed in March, although the founders, Brooks Castellaw and Jeremy Furman, previously owned the property. The deal was financed with a $26.7 million Fannie Mae Delegated Underwriting and Servicing loan arranged by Greystone Managing Director Richard Kourbage.  

Lakeside Villas was built in 2002 and comprises 13 three-story buildings on 23 acres. The property offers one-, two- and three-bedroom units and amenities including a community clubhouse, fitness center, business center, in-ground swimming pool, pool house, grill stations, playground and covered parking. 

“We are very familiar with the property and the submarket,” Castellaw said in a press release. “Lakeside Villas fits our business plan of buying well built, suburban multifamily properties in the Sunbelt with modern floor plans, oversized units, direct access garages and a full amenity set.”