Richmond
Wheeler REIT Adds Brook Run to Retail Footprint
Wheeler Real Estate Investment Trust, Inc. is expanding its portfolio of properties in Virginia. The Virginia Beach-based commercial real estate investment company has recently purchased a shopping center in the city of Richmond.
Virginia Beach M-F Asset Changes Hands
The Hampton Roads area has registered another multifamily sale. A large apartment complex in Virginia Beach has changed hands recently for an undisclosed price.
InvenTrust Buys Retail Center on West Broad St.
Another Richmond retail asset has changed hands this month. After Capital Square Realty Advisors’ acquisition of the 24,000-square-foot building at 2000 Old Brick Road, at the start of May, InvenTrust Properties purchased the WestPark Shopping Center from represented Westdale Asset Management, Ltd. The sale price was $33,390,000 or about $189 per square foot.
Seniors Housing Community Changes Hands
A Richmond affordable senior housing community has changed hands this month. Forest Hills Apartments Limited Partnership sold The Arbors to Atlantic Multi Family 9 – Arbors, LLC. The price of the transaction was not disclosed.
Capital Square Realty Advisors Buys Richmond Retail Building
Capital Square Realty Advisors LLC continues to expand its portfolio of properties. At the start of the month, the Innsbrook-based real estate investment firm announced the acquisition of a retail building in Richmond.
DTZ Arranges Financing For Baker’s New Portfolio
Earlier this year, First Potomac Realty Trust sold its last remaining properties in the Richmond region for $60.3 million. At that time, the company did not reveal the name of the buyer. However, it has now come to light that Baker Properties LP, a division of the White Plains, N.Y.-based Baker Companies, specializing in commercial real estate development and acquisitions of warehouse and flex buildings, acquired the six-business park portfolio.
Makeover, Rebranding Planned for Hilton Garden Inn
Hilton Worldwide and HRI Lodging, LLC revealed in April their plans to renovate the Hilton Garden Inn Richmond Downtown and to rebrand it into a full-service Hilton Hotels & Resorts property. The cost of the project is $11.5 million.
Huntington Ingalls Plans Employee Health Center
Huntington Ingalls Industries, one of the largest military shipbuilding companies in the United States, is building a new health center in Newport News. Called the Huntington Ingalls Industries Family Health Center, it will provide affordable health care to HII employees and their families.
Hotel with a Quirk Heads for Downtown Richmond
Denver-based Destination Hotels, the largest operator of independent hotels and resorts in the United States, has added another hotel to its urban collection. The Quirk Hotel is located in downtown Richmond and is scheduled to open this September.
Huntington Ingalls Signs Huge Lease in Hampton
Huntington Ingalls Industries is expanding in the Hampton Roads area. The shipbuilding company has recently signed a huge lease, for more than half a million square feet of space in West Park.