The company, which was forced to turn over the keys to Stony Point Fashion Park earlier this year, paid more than $141,000 per door to acquire the complex of seven buildings on 13 acres.
Residential Real Estate
Rounding out the top five deals for the month were three sales that each came in at $1.8 million.
Stanley Martin Homes bought 1480 and 1500 W. Moore St. on Nov. 4, less than a week after spending $10.2 million for a 23-acre site at 12401 W. Broad St.
New York-based Aurelie Capital plans to replace the aging shopping center with apartments and retail space across a dozen buildings.
Innsbrook-based Capital Square 1031, which paid $8 million for the property five years ago, was the seller.
The housing market is seeing sales activity at levels not reached in years, according to the Central Virginia Regional Multiple Listing Service.
In response to a suit by Tuckahoe Funding alleging fraud and embezzlement, Josh Romano blames the dispute on their mutual real estate attorney.
“Our long term strategy of being patient owners in a fast-growing neighborhood has gotten microwaved,” said Bonaventure Realty CEO Dwight Dunton III.
Stanley Martin Homes purchased a 23-acre site at 12401 W. Broad St., where it’s approved to build 194 for-sale condos and townhomes.
Richmond’s Commission of Architectural Review recently endorsed a plan to renovate an existing building with a modern-style addition to create nine apartments and two commercial spaces.