The Solomon Organization, a New Jersey investment firm, has bought two older apartment complexes in western Henrico County for a combined $143 million and says it will renovate both. If you rent at either one, expect changes; if you own a house nearby, an apartment sale like this does not set the value of your home.
Richmond BizSense reporter Mike Platania reported the deals on November 3, 2026. Here is a summary in our own words and what it means for the surrounding area.
The two deals at a glance
Every figure in this table comes from that BizSense report. Both sales closed October 16, 2026.
| Item | Tuckahoe Creek Apartments | Broadmoor Apartments |
|---|---|---|
| Address | 1500 Honey Grove Drive, off Forest Avenue | 9475 W. Broad St. |
| Units | 388 | 360 |
| Price paid in October 2026 | $74.7 million | $68.4 million |
| Latest county assessment cited | $68.1 million | $63 million |
| Price the seller paid in the early 2010s | $35.5 million | $32.2 million |
BizSense puts both deals at about $190,000 per unit. The seller in each was BH Equities of Iowa. Both complexes date to the 1980s, have more than 10 three-story buildings, and include a pool and a park area. Tuckahoe Creek covers more than 28 acres near Henrico Doctors’ Hospital, and the two properties are about four miles apart.
Solomon is based in Summit, New Jersey, and focuses on suburban apartments. BizSense says it holds more than 23,000 units nationwide and that these are its first Richmond-area purchases. A company spokesperson said it plans to renovate the interiors and exteriors of both complexes. It did not answer questions about the renovation budget or occupancy.
Thinking about buying instead of renting?
Browse homes for sale in western Henrico at your own pace, and run the numbers in our mortgage calculator before you compare a payment to your rent.
What it means for renters at either complex
Solomon’s stated plan is to renovate interiors and exteriors, which means work crews on site at some point. BizSense did not report rent levels, lease changes or a schedule, so we will not guess at any of them. If you live at Broadmoor or Tuckahoe Creek, read your current lease for its renewal and notice terms, keep copies of what you sign, and ask the new management in writing how renovations will be scheduled around occupied units. If a renewal offer arrives soon, compare it with what buying would cost; our buyer page explains how we work with first-time buyers.
What it means for the neighborhoods around them
Tuckahoe Creek sits near Three Chopt Road and Forest Avenue, close to Henrico Doctors’ Hospital, and Broadmoor sits on West Broad Street. Both are in established parts of western Henrico, near the areas covered by our Tuckahoe, Glen Allen and Short Pump pages. We have not mapped which community boundary each address falls in, so check a listing’s address on a map.
For a homeowner nearby, the main thing to know is that a large apartment sale is not a comparable sale for a single-family house. Henrico’s Real Estate Assessment Division says residential assessments usually rely on comparable home sales, while commercial properties are selected for reassessment based on factors such as rental income, occupancy and investor demand. Under Code of Virginia section 58.1-3201, real estate is assessed at 100 percent of fair market value. Both complexes sold for more than $5 million above their latest assessed values, per BizSense, but that gap tells you about investor demand for these apartments, not about your house.
What the deal does signal is that out-of-state buyers are paying above assessment for 1980s suburban apartments in this part of the county. Renovated units can change what renters nearby compare against. The West Broad corridor is also seeing public work, which we covered in the W. Broad Street sidewalk and transit stop hearing, and buyers who want to be near a hospital can read our guide to neighborhoods near a major hospital.
More stories like this are on our Richmond area news page.
Questions about the Broadmoor and Tuckahoe Creek sales
Who bought the Broadmoor and Tuckahoe Creek apartments?
The Solomon Organization of Summit, New Jersey. BizSense reports these are its first Richmond-area purchases.
How much did each complex sell for?
Tuckahoe Creek sold for $74.7 million and Broadmoor for $68.4 million, a combined $143 million, per BizSense. Both closed on October 16, 2026.
Will rents go up after the renovations?
BizSense did not report rent levels or plans for them, and the company did not answer questions on its budget or occupancy. Ask management in writing and read your lease’s renewal terms.
Does this sale raise my home’s assessment?
Not directly. Henrico says residential assessments usually rely on comparable home sales, and the county says commercial properties are selected for reassessment based on factors such as rental income, occupancy and investor demand.
How old are the two complexes?
BizSense says both date back to the 1980s and each has more than 10 three-story buildings.
Who sold the properties?
BH Equities, an Iowa firm, which BizSense says bought both in the early 2010s for $32.2 million and $35.5 million.
