Commercial Real Estate

A state senator and a Baptist church are jumping in to the busy senior living market with a pair of new projects in Henrico and Chesterfield counties.

After months of what one lawyer called a “somewhat tortuous” sale process, a Boston company has made a high bid of more than $37 million on imprisoned developer Billy Jefferson’s apartment empire.

A Miami company is expanding its holdings around the country and has purchased a nearly 30-year-old apartment complex near the airport. And the firm is planning six-figure upgrades to the building.

The Richmond business tycoon and philanthropist has scooped up a large piece of land near the I-95 and I-295 interchange. And the property could be a piece of a $400 million children’s hospital project for which Goodwin has voiced his support.

A Marriott-branded hotel will break ground this summer at the Bass Pro Shops-anchored shopping center, the latest in a string of new projects in the Ashland retail development.

Downtown-based Apple REIT Cos. sold off $206 million worth of hotel properties, and a recent letter from its CEO shows that the company is moving toward a public offering.

In its latest large real estate move near campus, VCU scooped up a gas station property at Belvidere and Broad. The lot was recently under contract and set to be redeveloped into a Walgreens by a North Carolina firm that now says it has come around to the school’s vision for the area.

A local developer is pitching an English village-style development on 120 acres in Hanover County that would add a grocery store and more than 500 homes to the area.

The Bass Pro Shops-anchored retail center in Ashland is set for a new $5 million development that will bring in a Chantilly-based shooting range.

A Shenandoah Valley construction firm is building a more permanent presence in Richmond with an office in an old Shockoe Bottom firehouse.