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Branch Group promotes SVP to chief HR officer
Roanoke-based construction firm The Branch Group Inc. has promoted Tina Pfalzgraf to chief human resources officer, the company announced Wednesday. Pflazgraf previously served as senior vice president of human resources. Her department established corporate initiatives in employee development, retention, benefits and recruitmen[...]
Capital Square launches subsidiary to oversee multifamily portfolio
Glen Allen-based real estate company Capital Square has launched a wholly-owned subsidiary to oversee management of the company’s multifamily portfolio, the company announced March 20. Capital Square Living will oversee off management of the company’s 55 residential communities, including 14,000 units across the Sout[...]
Hampton Roads housing market appears to stabilize
The Hampton Roads housing market appears to be stabilizing, according to a new report from the Real Estate Information Network Inc. (REIN). “We expect 2023 to be similar to pre-pandemic years where inventory increases in the spring and summer, and as long as buyers have inventory to choose from, they’re going to shop for hom[...]
Four Richmond-area distribution centers sell for $105.6M
A joint venture between Glen Allen-based Lingerfelt and Swiss private investment firm Partners Group bought three Chesterfield County distribution centers and one Hanover County facility for $105.6 million, Lingerfelt announced Friday. The four multi-tenant facilities are 100% leased to 18 tenants and total 1.16 million square f[...]
Naval operations building in Suffolk sells for $33M
The U.S. Fleet Cyber Command Center of Operations, a 114,045-square-foot building in Suffolk, has changed ownership. The building, part of a secure naval operations campus, sold for $33.25 million, according to Colliers Government Solutions. It is located at 115 Lake View Parkway in Suffolk. The seller of the building is Salus G[...]
Two Roanoke apartment properties sell for $3.35M
A 26-unit multifamily community and a 16-unit apartment complex in Roanoke sold together for $3.35 million on Feb. 10. Located at 2002 Langdon Road SW, the 26-unit community, Langdon Square at Raleigh Court, has 22 garden-style apartments built in 1985 and four townhomes built in 1990. The structure is 59,407 square feet total, [...]
Hourigan promotes CAO to construction president
Richmond-based construction and development firm Hourigan Group has promoted Bryan Jones to head its construction division, the company announced Tuesday. Jones joined Hourigan in 2016 and served as chief administrative officer before his promotion to president of construction. “Bryan personifies leadership at the highest leve[...]
Lingerfelt buys Chesterfield land to build luxury apartments
Glen Allen-based Lingerfelt Development LLC, a real estate investment management firm, has purchased about 4.5 acres of land in Chesterfield County from Hospitality VII Inc. with plans to build a luxury apartment community. The land is located at 2407 W. Hundred Road in Chesterfield, between U.S. 1 and Interstate 95. The $1.9 mi[...]
Divaris Group acquires N.C. mixed-use leasing, advising firm
Virginia Beach-based Divaris Group has acquired North Carolina-based real estate planning, advisory and leasing firm The McGarey Group, the firm announced Friday. Financial terms and other details of the acquisition were not disclosed. The McGarey Group, led by President and CEO F. Denver McGarey, is now operating within Divaris[...]
Radford’s Highlander hotel names senior leadership
The Highlander, a $40 million boutique conference hotel opening this spring in Radford, announced its senior leadership team March 1. The team includes Executive Chef James Kirby; General Manager Rachel Pegues; Director of Sales and Marketing Ginger Clark; and Director of Food and Beverage John O’Conner. Kirby is a graduate of[...]
Hickory Point Townhomes sells for $25M in Newport News
Arlington-based Ritz Banc Group, a real estate, private equity and alternative asset management firm, bought Hickory Point Townhomes, a 175-unit apartment complex at 399 Hickory Point Blvd. in Newport News, from New York-based AION Partners for $25 million, Cushman & Wakefield announced Monday. The new owner pland to conti[...]
Construction starts on 288 Lofts in Midlothian
Norfolk-based S.L. Nusbaum Realty Co. has started construction on 288 Lofts, a $28 million, 160-unit apartment community in Chesterfield County’s Midlothian area. The first apartments are expected to be completed in fall 2023. Located at 400 Katrina Court on about 11 acres at the northeast corner of State Route 288 and Mid[...]
