Thalhimer Realty Partners Inc., the investment and development subsidiary of Cushman & Wakefield | Thalhimer, has purchased Riverside Drive Apartments for $2.3 million from MLCFC-2007-9 Riverside Drive Complex LLC, an entity controlled by special services firm LNR Partners. The 66-unit property is located in the 2100 and 2300 block of Riverside Drive in Richmond.
Thalhimer Realty Partners plans to renovate the property, built in 1961. It said in a press release that work is scheduled to begin immediately on new roofs, windows, upgraded electrical service, installation of central HVAC and interior work on the units. Thalhimer Realty Partners has engaged Cushman & Wakefield | Thalhimer to manage the property.
Riverside Drive Apartments offers studio, one- and two-bedroom units averaging 780 square feet. The property is close to the James River and downtown Richmond. Thalhimer Realty Partners is a private real estate investment firm with a portfolio of commercial and multifamily assets valued at more than $250 million.
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