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Richmond Apartment Tower Trades for $48M

Berkadia has brokered the $47.5 million sale of River’s Edge at Manchester, a 212-unit, Class A multifamily high-rise tower in Richmond, VA.

Located at 505 Porter St., River’s Edge at Manchester overlooks the James River and downtown Richmond. It features one-, two- and three-bedroom open floor plans with stainless-steel appliances, in-unit washers and dryers and private terraces. Amenities include a sky lounge and deck overlooking the river, an outdoor area with grilling stations, hammocks and a fire pit, a fitness center and a saltwater swimming pool.

Drew White of Berkadia’s Washington, D.C. office and Carter Wood of Berkadia’s Richmond office represented the seller in the transaction, an investor group including CMB Development and Purcell Construction as well as Charlottesville-based Woodard Properties and Hampshire Investments. The buyer was Colorado-based Four Mile Capital.


Inside The Story

Four Mile Capital

About David Cohen

David Cohen is Southeast Editorial Director at Connect Commercial Real Estate. David is a media veteran with more than 10 years of experience in journalism, copywriting and communications across a variety of roles. He is responsible for covering commercial real estate news and trends in the Southeast, Florida, Washington D.C. and Boston at Connect CRE as well as specializing in the Student Housing sector. Prior to joining Connect, David was the editor of Northeast Real Estate Business magazine and Student Housing Business magazine at France Media as well as spending time freelancing for ESPN and the Associated Press in the fast-paced field of live sports event production. He is also an owner and investor in multifamily real estate in Atlanta, GA. David currently resides in Atlanta and graduated from the College of Communication & Information at the University of Tennessee Knoxville.

  • ◦Acquisition
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