Latest Breaking News On - Unit river - Page 1 : comparemela.com

RICHMOND, VA - Four Mile Capital (FMC), a privately-held real estate investment firm based in Louisville, CO, has acquired the River’s Edge at Manchester Apartments, a 212-unit multifamily community in Richmond, VA. River’s Edge, built in 2018 and currently 94% occupied, sits on almost 2 acres of land in one of Richmond’s fastest growing submarkets. The distinctive luxury community consists of 131 one-bedroom units, 80 two-bedroom units, and one three-bedroom penthouse, each with its own private terrace. Greystar, has been awarded the property management contract. The transaction closed on April 16, 2021, for $47,500,000, which equates to $224,000 per unit or $252 per square foot. As part of their acquisition, FMC raised over $15M in equity from their network of high-net worth investors and assumed the seller’s $34M Fannie Mae loan with 8 years remaining on the term. This is FMC’s second asset in the Richmond market.

United statesRiver edgeRichmond international airportJames riverUniversity of richmondVirginia commonwealth universityLaurel pinesEric mallonChris geerM fannie maeUnit riverManchester apartmentsSmile capitalFannie maeRichmond internationalSky lounge