By Michael O’Connor, Virginia Business
An out-of-state buyer has scooped up some prime real estate in the Richmond area.
Georgia-based multifamily developer and investment firm Pollack Shores Real Estate Group said in a news release it and an entity called Heitman LLC had acquired the Flats at West Broad Village at 3930 Wild Goose Lane in the heart of the Short Pump shopping area.
Pollack Shores’ acquisition of The Flats at West Broad Village marks the company’s entry to the Mid-Atlantic market. The company said it plans to invest $4.5 million capital improvements at the property.
In addition to the apartments, the deal includes 8,300 square feet of ground floor retail that will be used for a new leasing office, fitness center and internet cafe.
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