Berkadia has arranged $144 million in debt and equity financing for a new mixed-use development in Richmond, Virginia, by Hoffman & Associates and DeBartolo Development.

Information on the Target

Berkadia has successfully secured debt and equity financing for a new mixed-use community project amounting to $144 million, located at 3200 W. Moore Street in Richmond, Virginia. The property will include approximately 366 residential units alongside more than 18,000 square feet of retail space, contributing significantly to the local urban landscape. The development, situated in the vibrant Scott’s Addition neighborhood, aims to create a dynamic living environment complemented by over 10,000 square feet of modern amenities, including courtyards, terraces, and a pool deck.

As demolition for the site commenced in November 2025, the project represents a strategic investment in an area that has been undergoing rapid transformation from a former industrial zone into a lively community hub. This initiative, spearheaded by joint venture partners Hoffman & Associates and DeBartolo Development, LLC, is anticipated to enhance the neighborhood's appeal and foster community engagement.

Industry Overview in Richmond, Virginia

The Richmond real estate market has shown significant resilience and growth, particularly within mixed-use developments. Over the past few years, cities across the United States have witnessed a trend toward urban living, and Richm