An out-of-state investor hopes to turn around a distressed Mechanicsville shopping center for which he paid less than half the assessed value.
Brandy Hill Plaza
The delinquency rate for commercial real estate loans is climbing in Richmond. That could mean more distressed property will hit the market this year as lenders get tougher on borrowers. And that, in turn, could mean a few more bargain-basement prices for investors willing to bet on a recovery.