The Boulders
Realized The Boulders is a 289,278 square-foot, 3-building portfolio of class-A office properties and an adjacent land parcel located in the Midlothian submarket of Richmond, VA that were acquired by Lingerfelt’s predecessor on April 3, 2012. At acquisition, the portfolio was 80% occupied by 32 tenants at an average gross rent of $17.85/sf.
Investment Info
- Status: Realized
- Market: Richmond, VA
- Property Type:
Office - Square Footage: 289,278
- Lingerfelt Role: General Partner
- Strategy: Acquisition
- Sub-Strategy: Reposition, Lease-Up
Investment Metrics
- Entry Date: April 03, 2012
- Purchase Price: $22,100,000
- Total Capitalization: $24,800,000
- Exit Date: September 29, 2016
- Exit Price: $26,250,000
- Hold Period: 4.5 Years
