Home / Business and Economy / Richmond Multifamily Gets $86.5M Boost
Richmond Multifamily Gets $86.5M Boost
7 Oct
Summary
- Chasen, a 352-unit community in Richmond, received $86.5 million in financing.
- The property is located in Scott's Addition, a revitalized industrial district.
- Financing was arranged by Walker & Dunlop for Capital Square.
Walker & Dunlop has successfully arranged $86,500,000 in bridge financing for Chasen, a newly constructed 352-unit multifamily community situated in Richmond, Virginia's dynamic Scott's Addition neighborhood. This significant financial backing was facilitated by Walker & Dunlop's Capital Markets Real Estate Finance team, working on behalf of Capital Square. The variable-rate, interest-only financing was secured through a private credit lender.
Completed in phases between late 2025 and early 2026, Chasen comprises three residential buildings offering a range of studio, one-, two-, and three-bedroom units, alongside over 5,000 square feet of ground-floor retail space. The community boasts upscale amenities, including a resort-style pool and a co-working center. Its location in Scott's Addition, a former industrial area now known for its vibrant atmosphere, places it strategically near major thoroughfares, enhancing access to employment centers and other city districts.
