Hoffman & Associates, DeBartolo Secure $144M for VA Mixed-Use Development
Hoffman & Associates and DeBartolo Development announced the closing of financing for a new mixed-use residential community located at 3200 W. Moore Street in Richmond, Virginia.
The Hoffman & Associates and DeBartolo Development joint venture will co-develop the mixed-use project located in the Scott’s Addition neighborhood. The financing structure includes a senior construction loan provided by TD Bank and equity investment from Red Cove Capital. Berkadia’s D.C. Metro and Richmond teams supported the capital raise effort on behalf of the Venture. Groundbreaking is slated for early 2026.
Senior Managing Director Brian Crivella and Managing Director Brian Gould of Berkadia D.C. Metro led the transaction, with support from Managing Directors Carter Wood, Bill Gribbin and Yalda Ghamarian; Senior Director Hunter Wood; and Senior Managing Directors Drew White and Director Cole Carns of Berkadia Richmond.
Moore Street is a nearly 400,000-square-foot mixed-use development that will feature over 18,000 square feet of retail space and approximately 366 apartment units. Scott’s Addition, located just northwest of Downtown Richmond, is a former industrial hub that has been transformed into a creative district, with breweries, restaurants, and cultural venues.
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Remax Real Estate Professionals
Re/Max Real Estate Professionals
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Jared Ennis
Central CA Commercial | California
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Rick Recckio
Recckio Real Estate & Development
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Greg Corbin
Northgate Real Estate Group
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Essex Property Trust, Inc.
California
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Josh A
California
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Bob Tuteur
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Andrew Schildcrout