Monday, January 25, 2016

HFF closes $78 million sale of Richmond Tower in downtown Richmond, VA

Stephen Conley
WASHINGTON, D.C. –– Holliday Fenoglio Fowler, L.P. (HFF) announced it has closed the sale and arranged financing for the Richmond Tower, a 207,000-square-foot office tower in downtown Richmond, Virginia. 

HFF represented the seller, Armada Hoffler Properties, Inc., in the transaction.  Kireland South 10th Street, LLC purchased the tower for $78 million.  Additionally, HFF assisted the new owner in securing $52 million in fixed-rate acquisition financing.

Completed in 2010, the 15-story the Richmond Tower is 98 percent leased with law firm Williams Mullen occupying 82 percent of the space.  The property is situated in downtown Richmond at 200 South 10th Street, adjacent to Kanawha Plaza and just a few blocks from the Virginia State Capitol. 

The HFF investment sales team representing the seller was led by Stephen Conley, Dek Potts, Jim Meisel, Andrew Weir and Matt Nicholson.

HFF’s debt placement team was led by senior managing director Cary Abod.

Adam Vaisman, Director of Acquisitions for Butters Construction and Development, and Richard Ostrovsky of MEK Management Services, Inc., served as advisors to the buyer.
 For a complete copy of the company’s news release, please contact:

Kristen M. Murphy
Associate Director
HFF | One Post Office Square, Suite 3500 | Boston, MA 02109
Main: 617-338-0990 | Direct: 617-848-1572 | Cell: 617-543-4873 |

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