Garrison Gore News Today

The buyer was Lakeland Capital, which has spent more than $22 million on properties in Richmond since 2022.

Units at the properties total more than 450 residences. An N.J. firm acquired a pair of southeastern assets.

Conserve Holdings secured $28.5 million of acquisition financing from KeyBank for the purchase of a multifamily asset in Chesapeake, Va.

The eight-figure deal was the second in as many years for the development group led by current and former executives of homebuilder Schell Brothers.

A faction of industry veterans, including Joe Marchetti and Todd Willett, launched their new firm last week.

The company in recent weeks sold a mixed-use complex near VCU, bought land in Petersburg and began demolition on the old Wesco site on Arthur Ashe Boulevard.

“Some of these types of properties are overlooked by the greater investment community,” said Lakeland principal Alexander Westra of two buildings on Arthur Ashe Boulevard it acquired for a combined $6 million.

NORFOLK, VA - Colliers is pleased to announce the sale of two multifamily properties on behalf of Resource REIT in Hampton Roads. Tech Center Square, 128 Jefferson Point Lane in Newport News, was sold from Resource REIT to Walde Management. The multifamily community was originally built in 1985 and includes 208 residential units. Situated near a Whole Foods anchored shopping center in the most highly trafficked corridor of the Peninsula, Tech Center Square offers tremendous long-term revenue...

The food-and-beverage incubator was the only nominee honored by both contests. GRACRE’s Project of the Year award went to Sheltering Arms Institute.

“What’s really happening is investment groups are seeing Petersburg as a stable place to invest now,” a developer said of the $9.4 million sale of the High Street Lofts.