H.I.G. Realty Purchases $110M Shopping Center Portfolio in Metro Richmond, Virginia

by Hayden Spiess

HENRICO AND MIDLOTHIAN, VA. — H.I.G. Realty Partners has purchased a shopping center portfolio for $110 million and formed a joint venture partnership with Rosenthal Properties and FarmViewVentures.

Totaling 592,000 square feet, the portfolio includes Parham Plaza, Ridge Shopping Center and Staples Mill Square in Henrico, roughly 10 miles outside Richmond, and Stonehenge Village Center in Midlothian, roughly 15 miles outside Richmond.

The portfolio was approximately 95 percent leased at the time of sale to tenants including Wegmans, Walmart, The Fresh Market and Aldi.

Todd Soloway, Danielle Schechner, Ari Tran, Benjamin Teig, Kyle Miller, Nicholas Ratsep, David Saltzman and Michael Kumar of Pryor Cashman represented H.I.G in connection with the acquisition and financing of the shopping center portfolio.

The seller and direct lender for the acquisition financing were not disclosed.

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