Northside apartment up for auction

Chamberlayne Gardens covers about 11 acres, and its units total about 140,000 square feet. (photo by Michael Schwartz)

Chamberlayne Gardens covers about 11 acres, and its units total about 140,000 square feet. (photo by Michael Schwartz)

By Michael Schwartz

RICHMOND, Va. (RichmondBizSense.com) – Ownership of a large Northside apartment complex is up for grabs this week.

The 216-unit Chamberlayne Gardens Apartments will be offered for sale at a foreclosure auction Thursday.

The 11-acre property is owned by CG Bellkor LLC, which is affiliated with locally-based real estate firm OHI.

CG Bellkor defaulted on a loan, according to a legal notice. The current noteholder and lender on the property is Fannie Mae, according to city records. The original loan amount was around $8 million.

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