The Colliers International Mid-Atlantic Multifamily Advisory Group is pleased to announce the sale of 2000 West Creek at 2000 Broad Branch Circle in Richmond from Bristol Development Group, based in Franklin, Tenn., to Capital Square, based in Richmond.
2000 West Creek is an award-winning Class A apartment community completed in 2018. It has 373 one- and two-bedroom apartments with spacious floor plans located in West Creek, one of Richmond’s most coveted developments. West Creek is home to several Fortune 500 companies and popular amenities including the Hardywood Park Craft Brewery.
Adjacent to the highly traveled Route 288 thoroughfare, 2000 West Creek residents benefit from its easy access to extensive retail and key employment centers. West Creek’s expanding business park with over 10,000 employees and more than 2.1 million square feet of office space is quickly transforming the submarket and establishing a vibrant live, work and play community. The Short Pump shopping district with 5.1 million square feet of retail space sits only minutes from the property and features the area’s highest-end shopping, dining, and entertainment establishments along with numerous new residential and office developments.
Amenities include a resort-style swimming pool and outdoor courtyard, state-of-the-art fitness center, and clubroom. The interior amenities create an ambiance of luxury and sophistication with nine-foot ceilings, quartz countertops, wood-grain plank flooring and all-tile bathrooms. The kitchens have top-of-the-line finishes and appliances, including rich cabinetry with an abundance of storage, a breakfast bar and contemporary light fixtures. Oversized balconies, luxurious garden-style tubs, walk-in closets and interior garages are found throughout the property.
“Our platform facilitated the most competitive process, delivering the highest watermark pricing in the history of Richmond,” said Will Mathews, managing director and platform leader of Colliers East Region Multifamily Advisory Group. “This disposition is another validation proving our market-leading team combines cutting-edge innovation, analytic forecasting, superior market knowledge and the most collaborative team approach in the industry. Every decision we make has the ultimate focus on our client.”
“Capital Square has acquired Richmond’s premier multifamily community and arguably one of the finest residential projects delivered in the Southeast,” said Charles Wentworth, senior vice president with Colliers International. “The buyer was attracted to the property’s superior amenity package, spacious, desirable floor plans, and outstanding location near several key employers such as Capital One and CarMax.”
“We are very excited to close yet another deal with the Colliers International team and bring to our investors an apartment community built to the highest quality with unmatched amenities and strong future growth potential,” said Whitson A. Huffman, senior vice president with Capital Square. “The Colliers and Bristol teams facilitated a seamless transaction that allowed us to close on time and without issue.”
”We could not be more pleased with the results that the Colliers team produced on this transaction,” said David Hanchrow, chief investment officer of Bristol Development Group. “2000 West Creek is a unique and very special asset, and we put a lot of thought in both who we wanted to market it and who should buy it. Capital Square’s execution of the acquisition was flawless, and we look forward to doing more business with them in the future.”
Mathews, Wentworth, G.S. (Hank) Hankins, senior vice president; Rawles Wilcox, senior vice president; Victoria Pickett, vice president; Clay Ellis, associate; and Garrison Gore, associate; of Colliers International represented the seller, Bristol Development Group in the transaction.
