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Hertz Investment Group Sells Five Building Portfolio in Richmond

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LOS ANGELES - eTradeWire -- Hertz Investment Group (https://www.hertzgroup.com/), a leading private equity commercial real estate firm, has announced the $39.5 million sale of a five-building portfolio located in Richmond, Virginia. KAS Partners, a Miami based commercial real estate firm, was the buyer.

"Part of excelling in the private equity market means monitoring the portfolio and harvesting the value when the time is right," said Zev Hertz, Chairman of the Woodland Hills, CA-based firm that owns and operates properties throughout the country. "We purchased the portfolio in 2012 and in this case, we realized the timing was strong to maximize the return for our investors."

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Located in two major business parks in Chesterfield, the approximately 420,000 SF portfolio included three buildings on Moorefield Park Drive, the Winchester building located at 10800 Midlothian Turnpike, and the Boulders Center complex located at 1011 Boulder Springs Drive.

Founded in 1977, today Hertz Investment Group maintains a portfolio of 58 buildings in 21 cities throughout the country. With more than 220 employees, the firm is known for its astute portfolio management and ability to monitor the market.

Raegan Haggard

Source: The Hoyt Organization
Filed Under: Real Estate

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