New Offering: 224-Unit Preferred Equity or JV Opportunity in Richmond, VA

Download Offering Materials: Sphere Apartments

On behalf of MVP Equities (the “Developer”), Capstone Equity Solutions is pleased to present a preferred equity or joint venture opportunity to finance the development of Sphere Apartments: a to-be-built, 224-unit luxury mid-rise multi-family community near downtown Richmond, Virginia. This Class A development will be comprised of two four-story buildings and will feature amenities such as an oversized two-story clubhouse, swimming pool, fitness center, bike storage, and more. Within three miles of the site, there are over 175,000 jobs and nearly 10,000 businesses. Additionally, the site is walkable to both Virginia Union University (VUU) and Virginia Commonwealth University (VCU), supporting robust demand for new Class A multi-family product in the area. The Developer recently obtained a special use permit for the development and is projecting to break ground in November 2020 after expected closing on the site at the end of October.

Development Highlights
Strong Sponsor With Extremely High-Quality General Contractor
Shovel-Ready Multi-Family Development
Multiple Demand Drivers Nearby
Robust Richmond Leasing Environment

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