Richmond’s Market Villas apartments sells for $3.9M
The 31-unit apartment property was 94% leased at time of sale.
Richmond real estate developer Lynx Ventures sold Market Villas, a 31-unit adaptive reuse apartment property, to real estate asset management firm CJehn Partners LLC for more than $3.9 million, Cushman & Wakefield | Thalhimer’s Capital Markets Group announced Wednesday.
The property located in downtown Richmond’s historic Shockoe Bottom neighborhood includes first-floor retail space in close proximity to the 17th Street Farmers’ Market.
Cushman & Wakefield | Thalhimer’s Capital Markets Group represented Lynx Ventures in the disposition of the property and the transaction was completed by Calvin Griffith, Jeff Cooke, SIOR and Catharine Spangler of Cushman & Wakefield | Thalhimer.
Market Villas was 94% leased at the time of the sale from Lynx Ventures.
CJehn Partners LLC invests in properties located in Richmond, Norfolk, Chesapeake, Newport News and Corolla, North Carolina.
During the past 15 years, Lynx Ventures and partners have invested in excess of $300 million to develop more than 20 projects in Richmond, Petersburg and Charlottesville.