Bluestone, Brentwood Pay $75M for Virginia Senior Housing
The new owners will implement a multimillion dollar capital improvement plan on the 950-unit property in Richmond.
Mar022021
Image via Google Maps
A joint venture of The Bluestone Group and Brentwood Investment Group has purchased Imperial Plaza, a 950-unit, four-building senior housing property in Richmond, Va., for $75 million. According to
Richmond BizSense, Dominion Partners was the seller, while Arbor Commercial Mortgage provided partial financing for the buyers.
Dominion picked up the asset that encompasses independent living, assisted living and memory care services, back in 2001, public records show. Located at 1717 Bellevue Ave. on 22 acres at the juncture of interstates 64, 95 and 195, the plot sits across the street from Bryan Park and 6 miles northwest of downtown Richmond.