Cleghorn Capital Acquires American Heritage Apartments Multifamily In Richmond, VA For $9.9M

The American Heritage Apartments at 1001 E. Main St. in downtown Richmond has undergone a change in ownership. The 12-story multifamily building, consisting of 57 units, was sold to Cleghorn Capital, a Washington, D.C.-based investment firm. The transaction was completed for a sale price of $9.9 million, resulting in a per unit price of $173,684.

Summary of transaction details

• Property Type: Multifamily
• Transaction Amount: $9,900,000
• Address: 1001 E Main St, Richmond, VA
• Market: Richmond, VA
• Buyer: Cleghorn Capital
• Seller: Bluestone Group & Brentwood Investment Group
• Units: 57
• Price per Unit: $173,684

Cleghorn Capital, the buyer in this transaction, is a prominent investment firm based in Washington, D.C. They have expanded their portfolio with the acquisition of the American Heritage Apartments. The sellers, Bluestone Group and Brentwood Investment Group, successfully closed the deal with Cleghorn Capital, enabling the investment firm to add this multifamily property to their portfolio.