The Cypress Point shopping center was sold to a developer. The Developer only builds multi-family housing.

Capital Markets Group Arranges $12M Sale of Cypress Point Shopping Center in Virginia Beach - Thalhimer

Inside Business also picked this up for a story:

Public records: Cypress Point Shopping Center in Virginia Beach sold for redevelopment – The Virginian-Pilot (pilotonline.com)

https://thalhimer.com/marketwatch/our-blog/capital-markets-group-arranges-12m-sale-of-cypress-point-shopping-center-in-virginia-beach/

https://www.pilotonline.com/2024/09/16/public-records-cypress-point-shopping-center-in-virginia-beach-sold-for-redevelopment/

https://thalhimer.com/marketwatch/our-blog/capital-markets-group-arranges-12m-sale-of-cypress-point-shopping-center-in-virginia-beach/

BH Cypress Point MF Development is the entity that recently acquired the Cypress Point Shopping Center in Virginia Beach, Virginia, in September 2024. The center, spanning 118,200 square feet, was purchased for $12 million with plans for redevelopment. The property is located at the intersection of Wesleyan Drive and Diamond Springs Road, a strategic location near Virginia Wesleyan University and Norfolk Academy, and surrounded by a dense residential area. The shopping center was previously anchored by Farm Fresh, and the new owners aim to transform the site​(Thalhimer)​(REBusinessOnline)​(REBusinessOnline).

Information on BH Cypress Point MF Development is relatively limited, primarily focusing on its recent acquisition of the Cypress Point Shopping Center in Virginia Beach for $12 million in September 2024. This real estate entity appears to be involved in the redevelopment of this retail property, which is located in a dense residential area near key local institutions such as Virginia Wesleyan University and Norfolk Academy​(Thalhimer)​(Thalhimer)​(Our Community Now).

As of now, details on the entity's broader activities, leadership, or portfolio are not readily available, and it seems to be a special-purpose or project-specific entity focused on this particular acquisition and redevelopment.