Uptown Richmond is a 47 parcel mixed-use investment in the Fan District of Richmond, one of the most sought-after Richmond submarkets. Carolina Capital (CC) purchased the property in December of 2021.
CC’s investment objective was to acquire a well-located, quality retail, office, and multifamily asset with an in-place, diverse tenant mix. The property was acquired at an attractive cap rate and well below replacement costs. Furthermore, the property is strategically located in a dense and thriving Richmond submarket and benefits from explosive population growth in the immediate area and proximity to Virginia Commonwealth University.
CC plans to hold the asset as part of their street retail and stabilized income portfolio.