RICHMOND, Va. - (Business Wire) The Bogese Companies, a commercial real estate firm, today announces it has completed the sale of a pair of multi-family properties in Central Virginia to Associated Estates Realty Corp. (NYSE:AEC).
The Bogese Companies sold The Belvedere Apartments – named the 2007 Property of the Year by the Central Virginia Apartment Association – and River Forest Luxury Apartment Homes for $75 million. The Class A apartments include 536 units and are part of two mixed-use projects The Bogese Companies is developing. Drew White, the senior director of the Capital Markets Group, Apartment Brokerage Services at Cushman & Wakefield, office represented the seller.
“We’re very proud of the quality of these apartment developments,” said Michael J. Bogese, Jr., president and CEO of The Bogese Companies. “This is a real tribute to the expertise, dedication and professionalism of the hard-working people in our organization to have created what we believe are two of the finest apartment communities in Central Virginia.”
The Belvedere Apartments is located in Northern Chesterfield County, while River Forest, located in nearby Chester, serves the Southern Chesterfield County market. The Bogese Companies, Belvedere and River Forest are wholly owned entities of the Michael J. Bogese, Jr., Family.
About The Bogese Companies
Founded in 1945, The Bogese Companies is a diverse real estate development firm that has developed shopping centers, office buildings, warehousing operations, residential developments and industrial parks, specializing in Class A multi-family, for-rent developments. Visit The Bogese Companies at www.bogese.com.
The Bogese Companies
Sean Ryan, 804-788-1414
