Middleburg, Harbor Group International Close Financing for Richmond MF Development
Middleburg and Harbor Group International announced the closing of construction financing for Scottwood, a 299-unit multifamily development located at 4400 West Broad Street in Richmond, Virginia.
Construction is set to start in April, with initial deliveries anticipated in late 2027. Financing was provided by Truist Bank. Situated just west of the city’s Scott’s Addition District near Topgolf Richmond, Scottwood will span two four-story buildings, one with 132 units and the other with 167.
“This corridor has a real rental housing demand, and we are committed to delivering a community that meets it in quality, in amenities, and in its role in the future of this part of Richmond,” said Ross Magette, Development Partner for Middleburg.
Scottwood will deliver near top-of-market quality at a more attainable rent level and the project features individually curated courtyards throughout the property and activated amenity spaces along the West Broad Street frontage.
Other News
RK Investors Lands $81M Construction Loan for 299-Unit Charlotte Rental Community
An RK Investors-led team obtained an $81 million construction loan for Sutherland at Piper Glen, a 299-unit multifamily development underway in Charlotte’s Piper Glen neighborhood. The financing was provided by Western-Southern Life Insurance Company. The financing was arranged by Nate Sittema, Kristen Reilley and Elliott Voreis with CBRE’s Debt & Structured Finance team. Currently under...
Learn more
Pasadena Offices Sell for Residential Conversion
NAI Capital Commercial EVPs John S. Archibald and Guillermo Olaiz, alongside senior associate Stephen Lam of the Investment Services Group in the Pasadena office, represented the seller, Star Horizon, LLC, in the sale of ZK Plaza, a 41,586-square-foot office building in Pasadena. The property sold for $13,400,000, representing a 3.5% premium over asking. Located at...
Learn more
Berkadia Negotiates Student Housing Property Sale in Kansas
Berkadia announced the sale of Orchard Corners & Suites, a 139-unit, 264-bed, garden-style student housing property serving The University of Kansas in Lawrence, Kansas. Berkadia’s Student Housing and Kansas City investment sales teams collaborated to facilitate the transaction on behalf of the seller, Utah-based Redstone Residential. The Berkadia team included Senior Managing Directors Travis Prince...
Learn more
Brokers
View All-
Remax Real Estate Professionals
Re/Max Real Estate Professionals
-
Jared Ennis
Central CA Commercial | California
-
Rick Recckio
Recckio Real Estate & Development
-
Greg Corbin
Northgate Real Estate Group
Lenders
View AllManagement
View All-
Essex Property Trust, Inc.
California
-
Josh A
California
-
Bob Tuteur
-
Andrew Schildcrout