TGM Realty Investors, Inc., the investment and development subsidiary of Cushman & Wakefield | Thalhimer, has purchased the Biggs Building Apartments, a 66-unit multifamily property located at 920 W. Marshall St. in Richmond. TGM bought the property from Biggs Building L.P. for $ 5 million. R. Scott Douglas and Lindsey C. Floyd of Cushman & Wakefield | Thalhimer represented TGM in the transaction.
Thalhimer will manage the property. Built in 1923, Biggs Building underwent conversion to apartments in 2003. The property consists of studio, one- and two-bedroom units averaging 910 square feet. Amenities include a fitness center, community rooms and a gated parking lot. Units also include a washer and dryer.
TGM is a private real estate investment firm with a portfolio of commercial and multifamily assets valued at more than $225 million. From its Richmond headquarters, it manages assets located throughout the mid-Atlantic Region.
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