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The Mill at Manchester Lofts features 70 apartments
The Mill at Manchester Lofts features 70 apartments
Courtney Mabeus-Brown// May 18, 2023//
A 70-unit apartment community in Richmond’s Manchester neighborhood sold for $14.8 million May 12.
Putnam Mill LLC, an entity connected to First Priority Management of Washington, D.C., purchased The Mill at Manchester Lofts, a former paper mill and warehouse that now consists of studio, one-, two-, and three-bedroom loft style apartments at 815 Perry St. as an investment. The seller was Fulton Street Partners, a Raleigh, North Carolina-based multifamily investment firm.
The apartments were 95% leased at the time of the sale. According to the community website, the property is managed by BH Management Services LLC, with rentals starting at $1,005.
Jenny Stoner and John Pritzlaff, of Cushman & Wakefield | Thalhimer, represented the purchaser in the sale. Putnam Mill will complete an interior and overall renovation after closing.
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