Case Study: HRI Properties

Hilton Richmond Downtown

Location
Richmond, VA
Type
Mixed Use
Year
2010
Rooms/Units
250/111
Commercial
6,728 SF

HRI Properties’ renovation of the Miller & Rhoads Building transformed a vacant downtown department store into 111 apartments, 250 hotel rooms, 17,713 square feet of meeting space, and approximately 6,728 square feet of retail and restaurant space.

HRI Properties partnered with a major insurance company to acquire a vacant former department store in downtown Richmond. This included the acquisition of an operating hotel and apartments at a significant discount to replacement costs in an off-market transaction.