The firm financed the deal by raising funds from its clients, who are now part-owners of the building and will earn the lion’s share of the returns.
Wealth management firm starts making its own real estate deals with Museum District acquisition
Mike Platania
Mike Platania joined BizSense in December 2016. He covers commercial real estate, restaurants and breweries. He graduated from Virginia Tech. Reach him at [email protected] or (804) 554-6872.
With its land up for sale, Legend Brewing in talks to sell recipes and other assets
“We want the brand to continue whether we continue it or if it ends up in someone else’s hands,” said Legend’s Dave Gott said. “The goal, ultimately, is keeping Legend Brown Ale and our products on the shelves. We’ve worked too hard to let it go by the wayside.”
Maryland developer under contract to buy Scott’s Addition site for 5-story project
The former Richmond Machinery & Equipment Co. site at 1701 Roseneath Road was previously eyed by locally based Blackwood Development in a deal that fell through.
Capital Square pays $11M for 2-acre Scott’s Addition assemblage
The Innsbrook-based firm has set a new high bar of $5.2 million for per-acre land grabs in the sought-after neighborhood. It’s planning a building of up to 8 stories for the site.
KavaClub strikes deal with VDH to begin serving controversial kava drink
After more than a year of legal and regulatory wrangling, KavaClub looks to finally be on its way to selling its namesake drink.
Church at Grove and Malvern soliciting interest from developers ahead of move
“We’re pretty small, which is why we needed to ask different questions about this big space that we have,’” said Rev. Hollie Woodruff of Seventh Street Christian Church.
Westover Hills mixed-use building OK’d again after permit expired
NoVA-based Sugar Mill Construction received city approval for the three-story development at 1005 Westover Hills Blvd., following the expiration of a previous permit for a similar project there.
Judge sides with leaseholder in Scott’s Addition parking spots spat
The ruling allows developer Hem + Spire to keep its lease on the parking lot for potentially another 16 years, restricting Dalian Development’s plan to develop the entire block.
Lobster roll chain rolling into Winterfield Crossing
The 10-year-old chain is entering the Richmond market by way of franchisees who also own local asphalt and concrete company Pro-Seal Paving & Sealing.
Former Tribble Electric owners look to recharge Museum District building with office-to-apartment conversion
In the six years since selling their namesake electrical contracting outfit, Dody and Steve Tribble have been dabbling in real estate and are now working on their largest project yet in the Museum District.