 |
| 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 | www.hfflp.com
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