Call it hometown pride combined with the opportunity to buy an iconic office complex at a good price in a prime location. Those were the makings of a deal Riverstone Properties couldn’t pass up.
The real estate arm of Bill Goodwin’s Riverstone Group announced Thursday that it had acquired the 1-million-square-foot James Center complex in downtown Richmond for $108 million.
Goodwin is one of Richmond’s best-known businessmen and philanthropists, and Riverstone has a reputation for restoring properties to their former grandeur. Millions in renovations are planned for the three office towers on East Cary Street, said Jeff Galanti, a principal with Riverstone Properties. “When we say Class A, we mean Jefferson Hotel Class A,” he said, referring to one of Richmond’s premier hotels.
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