A ten-story condominium constructing in Manchester has been bought for $47.5 million.
River’s Edge at Manchester, which opened in 2018, was bought to Colorado-based 4 Mile Capital, in keeping with business mortgage agency Berkadia.
The deal, which closed in mid-April, is the primary Class A acquisition in Richmond for 4 Mile Capital.
River’s Edge at Manchester has 213 one-, two- and three-bedroom residences.
The condominium constructing at 505 Porter St. was bought by Richmond builders Man Blundon with CMB Improvement and Mark Purcell with Purcell Building together with Charlottesville-based Woodard Properties and Hampshire Investments.
They acquired the 1.8-acre parcel — which had been a part of the previous Reynolds Metals Co. South plant — from Thalhimer Realty Companions in early 2017.
Thalhimer Realty Companions, the funding and improvement subsidiary of Cushman & Wakefield | Thalhimer, a business actual property agency in Henrico County, purchased the previous Reynolds Metals plant in December 2013.
The primary section of that mission, which was accomplished in 2016, concerned the renovations of three high-bay manufacturing warehouses into 219 residences — referred to as Metropolis View Lofts — and workplace house.
The second section was the River’s Edge at Manchester condominium constructing.