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Industrial
by Trey Hollingsworth
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by Stephanie Bell
Financial analysis
by James Kirkpatrick, CCIM, MAI
Market analysis
by Jennifer Norbut, Daniel E. Herrold, Scott K. Lunine, and John Z. Barr, CCIM
Partnerships
by Christopher J. Truitt, CPA

Deal Makers

Reid Bennett, CCIM, of Sperry Van Ness in Chicago, teamed with David E. Gilmore, CCIM, of Sperry Van Ness/Gilmore Auction in Kenner, La., and four partners to represent the bankruptcy estate of Billy Jefferson in the more than $37.3 million sale of the 440-unit River City Renaissance Apartments in Richmond, Va., to The Davis Cos. “We needed a robust team in order to win the business for one of the most historic and highly publicized apartment portfolios in the Richmond Fan District,” says Bennett. “Sperry Van Ness is known for its collaborative efforts, and adding the CCIM designation behind two of the members brought additional credibility to the machine.” The properties are situated among one of the largest intact 19th and early 20th century neighborhoods in the county and consist of 29 apartment buildings spanning two zip codes. “In order to underwrite 29 scattered site assets, CCIM fundamentals were used as a significant base to arrive at present values aligned with today’s frothy multifamily market,” adds Bennett.

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President's Desk
Financing Focus
by Lisa Connolly, Amy H. Lehman, and Stephen R. Lieske
Investment Analysis
by Donald J. Valachi, CCIM
Legal Briefs
by Tom Mounteer
Technology Solutions
by Peter Boritz

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