Washington, DC – August 1, 2022. Northridge Capital, LLC recently acquired Gateway Plaza, a 328,581 square foot Class AA office building in the heart of downtown Richmond, Virginia. The landmark trophy building is over 97% leased to a strong tenant roster, including anchor tenant McGuireWoods. The 18-story stainless steel and glass office tower was delivered in 2015 and offers panoramic views of Downtown Richmond, a convenient six-story parking deck (305 parking spaces), a secured bike room, conference facility and is located just off the James River in the flourishing River District.
Gateway Plaza is the second acquisition with its partner, Qatar First Bank (QFB), the leading Shari’ah compliant bank in Qatar. The partnership secured its first transaction together in the third quarter last year with its purchase of Fourteen5 in Dallas, Texas.
“We are delighted to have the opportunity to acquire such an iconic building and honored to partner with QFB on our second deal in the last year. Northridge Capital and QFB have strong shared values and operational alignment and we look forward to furthering our relationship,” said David Jackson, President and Founder of Northridge Capital.
“Richmond has a vibrant culture, a storied history and is a critical hub for the finance, insurance, IT and legal industries, among others. Gateway Plaza has an enviable tenant roster and we are confident that its central location in the Richmond CBD will ensure that it remains a prominent asset for many years to come,” says David Etemadi, Managing Director and Head of Acquisitions for Northridge Capital. “We are extremely bullish on Richmond given its proximity to Washington, DC and its ability to attract workforce talent looking for a high quality of life at a more affordable cost of living.”
About Northridge Capital, LLC
Northridge Capital is an independent real estate asset management firm that has invested since its founding in 1997 in over 60 assets on behalf of its investors with a combined acquisition value of approximately $2.28 billion. Based in Washington, DC, the Company works mainly with overseas institutional and individual investors to successfully define and implement customized strategies for investing in US commercial real estate. Northridge focuses on generating superior risk-adjusted returns for investors by acquiring, managing and selling real estate assets across a wide variety of property types and located in strategic geographic areas. For further information, visit www.northridgecapital.com.