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| Yogi H. Singh |
RICHMOND, Va. (Jan. 21,
2016) - Capital Square 1031 announced today that the company has acquired Perry Place Apartments, a 70-unit
historic loft style apartment community located in Richmond, Va.
Perry Place is a two-story
building located at 815 Perry St., within Richmond’s expanding Manchester Arts
District. The historic and recently renovated building is situated on
approximately 1.24 acres of land.
The units range in size
from studio to three-bedroom apartments, with views of the James River and downtown
skyline. The property also includes a community club room and 70 parking
spaces.
“Perry Place is located in
a growing, historic area with an abundance of neighborhood amenities and
convenient access,” said Louis Rogers,
founder and chief executive officer of Capital Square 1031. “It is in close
proximity to Richmond’s central business district, providing many convenient
employment opportunities for residents, with unique and architecturally
appealing units.”
Property amenities include
24-hour controlled access, an outdoor swimming pool, community roof deck area,
fitness center and on-site parking. Perry Place is less than 1.5 miles from the
Wells Fargo and Bank of America towers in Richmond’s central business district
and is adjacent to the headquarters of SunTrust Mortgage, a Fortune 500
company.
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| Louis Rogers |
Originally constructed in
1912 and recently renovated, Perry Place Apartments was 100 percent occupied at
the time of the acquisition.
“Richmond is a thriving
city with a diversified and growing economy,” said Yogi Singh, director of
acquisitions with Capital Square. “We are excited to add this well positioned
apartment community to our growing portfolio.”
The capital of the
Commonwealth of Virginia, Richmond’s economy is driven by government, higher
education, finance, law and biotechnology.
The city ranked second on National
Geographic’s list of “Where to Travel for Food in 2016,” and third on Travel +
Leisure’s global list of “Best Places to Travel in 2016.”
A total of six
Fortune 500 companies are based in greater Richmond, and three other companies
have a large presence in the area. The area’s higher education offerings
include 10 four-year institutions and 13 two-year institutions.
Capital Square 1031’s real
estate portfolio includes 39 properties valued at approximately $370 million.
.
For a complete copy of the company’s news release,
please contact:
Julie Leber
Spotlight Marketing
Communications
949.427.5172, ext. 703
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