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Turning Basin Locks in $13M in Financing

RICHMOND, VA-The Turning Basin Building, the new 93,000-sf Class A office and retail structure along the city's riverfront area, secures $13.1 million in financing for Turning Basin LLC through John B. Levy & Company. The building cost $17 million to develop.

By Barbra Murray | Updated on May 31, 2002

RICHMOND, VA- The new Turning Basing Building brings in $13.1 million in long-term permanent financing for Turning Basin LLC through John B. Levy & Company. The terms of the financing arrangement are for a five-year period that amortizes over 25 years.

Just recently completed, the Turning Basin building sits at 111 Virginia St. along the city’s Canal Front area. It is a $17 million Class A office and retail structure that offers 93,000 sf of space over five floors. First Market Bank, which has its name on the building, is among the structure’s leading tenants with its headquarters office and a ground-level branch occupying a total of 27,000 sf. Other tenants include PricewaterhouseCoopers, the Virginia Performing Arts Foundation, and Morton’s of Chicago.

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