Glen Allen, VA
Metropolis at Innsbrook
$16.5m
Size
402
Units
Glen Allen, VA
Market
- $16.5 million equity investment placed with an institutional investor for Sponsor
- Ground-up construction of a 402-unit Class A apartment project in the Innsbrook overlay district
- Metropolis is the first suburban project of its kind in the Richmond market with an abundance of studio and live-work units to attract a broad range of tenants
- Members of JBL invested their own capital in the transaction as Co-GP’s which supported the narrative around the project’s value to institutional investors not intimately familiar with Richmond's market dynamics. Most notably the increasing demand from young professionals for highly-amenitized units in close proximity to their place of employment
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