Lingerfelt Commonwealth Sells Two Medical Office Buildings in Richmond, VA
Press Release | Nov 29, 2018
Richmond, VA – November 29, 2018 – Lingerfelt Commonwealth Partners, LLC, a Richmond, Virginia-based commercial real estate investment firm, today announced the sale of two medical office buildings located in Richmond, VA to Montecito Medical Real Estate located in Nashville, TN.
The OrthoVirginia Boulders Building, located at 1115 Boulders Parkway Richmond, VA 23225, is a 70,000 SF medical facility developed by Lingerfelt Commonwealth in 2011 and is occupied by OrthoVirginia and HCA Health System.
The OrthoVirginia MRMC Building in the Memorial Regional Medical Center, located at 8200 Meadowbridge Road Mechanicsville, VA 23116, is a 63,000 SF medical facility developed by Lingerfelt Commonwealth in 2015 and is occupied by Bon Secours and OrthoVirginia.
Lingerfelt Commonwealth partnered with OrthoVirginia in the design, development and ownership of both facilities. “We thoroughly enjoyed our partnership with OrthoVirginia and we are appreciative of their trust in our company to have delivered state of the art facilities for their medical practice,” said Al Lingerfelt, Chairman and CEO of Lingerfelt Commonwealth. “This is an opportune time to sell these assets and we are excited to deliver exceptional value to our partner.”
Commonwealth Commercial Partners, Lingerfelt’s property management affiliate, will continue to handle all aspects of the day-to-day property management.
More on the company can be found on the web at www.LingerfeltCommonwealth.com.
ABOUT LINGERFELT COMMONWEALTH PARTNERS
Lingerfelt Commonwealth Partners, headquartered in Richmond, VA, is a vertically integrated, full service real estate investment management firm with additional offices in Charlotte, NC, Greensboro, NC, Greenville, SC, Hampton Roads, VA, Jacksonville, FL, Nashville TN, Raleigh, NC, Reading, PA, Houston, TX, Kansas City, MO and Tampa, FL. Together with its predecessors in the private sector and public REIT sector, its partners have built, acquired and managed nearly 20 million square feet of commercial real estate valued at approximately $2 billion across the Mid-Atlantic and Southeast. Learn more at www.lingerfeltcommonwealth.com.