BH Properties Targets VA for Portfolio Growth

RICHMOND, VA-BH Properties LLC is planning on increasing its holdings in the Virginia, South Carolina and North Carolina markets next year, targeting between $30 million to $50 million in deals. The firm already has some $70 million of deals under way, ranging from the initial research stage to nearing completion.

If past corporate history is any guide, BH Properties director of real estate Phillip Dunn tells GlobeSt.com, the firm will close about half of these deals. At $35 million, that means the company is edging close to its goal for the Virginia, North Carolina, South Carolina market for 2008. Texas and the southeast are other regions of the country in which BH is making a huge play, with plans to acquire another $50 million of properties there, Dunn adds. To better focus on the Mid-Atlantic, Dunn is moving to Virginia early next year.