Armed with a foursome that jumped over from another company, a Richmond-based bank has made its move further into the North Carolina market. Union Bank & Trust announced last week the opening of a commercial loan production office in Charlotte. The move was spurred by the addition of a team of commercial bankers from NewBridge… Read more »
Search Results for: downtown
Lender forecloses on Shockoe Slip property
Eleven minutes and a $100 bid helped send a downtown building into the hands of its lender. The Shockoe-Cary Building at 19-21 S. 13th St., which sits at the corner of East Cary Street, was foreclosed on at an auction on Wednesday. It is now controlled by Torchlight Investors, a special servicer acting on behalf… Read more »
Union closes acquisition of UVA alum-led firm
Richmond’s largest local bank has sealed a deal in Charlottesville to expand its wealth management business. Union Bank & Trust on Tuesday finalized its acquisition of Old Dominion Capital Management, a Charlottesville-based investment advisory firm that will add its $300 million in assets under management to Union’s $1.9 billion in wealth management assets. Financial terms… Read more »
Developer takes keys to Chinatown bus stop on Broad
Even a rundown old Chinatown bus station has potential when it’s nestled up against the edge of Scott’s Addition. Scott Coleman of Crossroads Development confirmed Wednesday that he’s behind the recent purchase of the No. 1 Bus Tour property at 3121 W. Broad St. CDI Broad LLC bought the site for $730,000 on May 19…. Read more »
Lingerfelt Commonwealth closes $90 million in deals
One of Richmond’s big real estate players has sealed a pair of eight-figure deals in Hampton Roads and Tennessee. Lingerfelt CommonWealth Partners this month announced a $74 million transaction that transferred ownership of the Bank of America Plaza office building in Nashville. The 435,525-square-foot building sold to a joint venture that’s 95 percent owned by… Read more »
Ledbury finds better fit on Broad Street
With the lease expiring at its longtime Shockoe Bottom headquarters, a homegrown shirtmaker is stepping into a downtown property owned by the Ukrops. Ledbury signed a lease this month to relocate its home base and flagship retail shop to three floors at 315 W. Broad St. The 7-year-old menswear brand plans to move into the… Read more »
Shockoe Slip building heading to foreclosure
A downtown building that’s home to apartments and a Japanese eatery is headed to the auction block. The Shockoe-Cary Building at 19-21 S. 13th St., which sits at the corner of East Cary Street, is scheduled for a June 1 foreclosure auction at 11 a.m. on the steps of the Richmond Circuit Court, according to… Read more »
The Pipeline: Commercial real estate deals for 5.27.16
Some Carytown retail space gets snatched up, Scott’s Addition continues its hot streak, a downtown building sells for $600,000, plus more space for Bon Secours, McKesson and others.
VCU stakes $44M claim in Short Pump
A recently developed medical office building and nearby parking lot in Towne Center West in Short Pump are now owned by VCU Health. VCU Health System Authority acquired the 111,000-square-foot, five-story medical office building at 11958 W. Broad St. earlier this month for $39.99 million, according to Henrico County records. It paid an additional $3.9… Read more »
N.C. buyer snatches up Bank of Virginia
The wave of bank consolidation has come ashore in Richmond once again. Midlothian-based Bank of Virginia and its parent company Cordia Bancorp announced on Friday a deal to be acquired by First Citizens Bank & Trust, one of the top 50 largest banks in the U.S. The all-cash deal, which is expected to close by… Read more »