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Va. Beach real estate investment company names new managing principal, CIO
Virginia Beach-based real estate investment company Croatan Investments announced Monday that Eric Smith will serve as its new managing principal and chief investment officer. Smith was most recently the chief operating officer and CIO at Armada Hoffler Properties, also in Virginia Beach. During his career, he’s worked w[...]
Walk this way
Virginia Business virtually sat down with Joshua Weinstein, founder of Norfolk Tour Co., which provides public and private tour services in downtown Norfolk and surrounding areas. This is part of an ongoing series of conversations with Virginians about how their work lives and businesses have changed during the pandemic. Virg[...]
Sentara Healthcare, VCU Health System seal the deal on Virginia Premier
Norfolk-based Sentara Healthcare and Richmond-based VCU Health System finalized their previously announced joint ownership of the Virginia Premier health plan on Wednesday. Sentara is now the majority owner and VCU Health has a 20% ownership stake of Virginia Premier, a Medicaid managed care organization. Sentara announced the agreement in September 2019, which will serve more […]
Williamsburg apartment complex sells for $26.25M
A 224-unit apartment complex in Williamsburg sold for $26.25 million, New York City-based commercial real estate company Berkadia Commercial Mortgage LLC announced Friday. The Regency at Longhill apartments are located at 5302 Lane Place Drive, which is less than 3 miles from the Warhill Sports Complex, the Williamsburg Premiu[...]
TowneBank moving closer to Norfolk Southern Tower purchase
Suffolk-based TowneBank is moving closer to purchasing the 22-story Norfolk Southern Tower, reaching an agreement to purchase a nearby downtown Norfolk parking garage for $8.5 million. TowneBank hopes to close on the parking garage and the Norfolk Southern building this summer, TowneBank spokesperson Joel Rubin said Thursday. T[...]
Two apartment complexes in Va. Beach sell for $7M+
Two apartment complexes in Virginia Beach have sold for $3.1 million and $4.525 million, respectively, commercial real estate investment company Marcus & Millichap announced this week. The Green Meadows Apartments sold for $3.1 million and the Breezy Meadows Apartments sold for $4.525 million, said Benjamin Yelm, regional ma[...]
Va. Beach-based DroneUp acquires AeroVista Innovations
Virginia Beach-based end-to-end drone pilot service company DroneUp LLC announced Thursday it has acquired Glenview, Illinois-based AeroVista Innovations LLC (AVI). The merged company will rebrand as The DroneUp Training Academy. DroneUp acquired AVI’s assets, employees and customer contracts. Financial terms of the transa[...]
Booz Allen Hamilton pledges job security for employees through July 1
McLean-based global IT consulting firm Booz Allen Hamilton has pledged to keep its 27,000 workers employed at least through July 1 during the COVID-19 crisis, and has also pledged funding to support employees dealing with health care and child care issues. The company announced Thursday it will redirect $100 million to a “pandemic resilience program” […]
Bon Secours Mercy Health furloughs 700 employees amid coronavirus
Bon Secours Mercy Health —which operates 11 hospitals in the Richmond and Hampton Roads regions — has furloughed 700 full-time employees across seven states and 12 markets, the health care system announced Tuesday. The health care system said in a released statement that the furloughs come as a result of fewer people seeking primary care, […]
Something in the Water sequel is canceled
Virginia Beach’s annual Something in the Water festival, set to take place in late April, has been canceled due to the coronavirus crisis. It will be back next year on April 23-25, 2021, say organizers. The brainchild of Grammy-winning musician and Virginia Beach native Pharrell Williams, the first festival in April 2019 [...]
First COVID-19 death reported in Western Tidewater Health District
A man in his 60s has died from respiratory failure in a hospital, Western Tidewater Health District announced Saturday in a news release. This is the district’s first COVID-19 fatality and likely the 19th death statewide, pending tests on two cases Friday afternoon. The patient had several underlying medical conditions, which exacerbated the effects of […]
An aerial view of drone industry during COVID-19
Virginia Business virtually sat down with Tom Walker, founder and CEO of DroneUp, a Virginia Beach-based company that provides end-to-end aerial data services to the commercial sector, government and pilots to get a feel for how his drone company has adapted to doing business during the coronavirus crisis. This is part of an ong[...]
