Nov 201722

Long & Foster Commercial Division Represented the Buyer in the Purchase of a Multi-Family Property in Richmond, Virginia

Arthur Nachman
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Arthur Nachman
Nov 201722

Long & Foster Commercial Division Represented the Buyer in the Purchase of a Multi-Family Property in Richmond, Virginia

Long & Foster Real Estate, the No. 1 independent real estate brand by sales volume, announced today that Arthur Nachman, CCIM, of the Long & Foster Commercial Division in Vienna, Virginia, recently closed a $10.2 million transaction in Richmond, Virginia.

Nachman represented a private equity buyer in the purchase of the 66-unit Argon apartment building, located at Cutshaw Avenue in Richmond, from an undisclosed seller.

As in all his transactions, Nachman provided his client “white-glove service,” guiding the transaction by working closely with the buyer’s attorney. He also assisted the buyer with conducting the property’s physical due diligence, interviewing and helping with the selection of the professional property manager, and working with the Virginia Housing Development Authority in the orderly transfer of the loan obligation.

“We’re very pleased to have negotiated this transaction for the buyer,” said Ron Glass, vice president and managing broker of the Long & Foster Commercial Division. “We’re confident this will be a good fit for our client.”