Shockoe apartment empire grows

From Richmond BizSense.com;

Plus MGT, owned by George Emerson and Phil Roper, purchased the Shockoe Place Apartments at 1900 E. Franklin St. on May 1 from CWCapital, a firm that holds and sells troubled real estate and its debt.

The developers now own almost 550 apartments in and around Shockoe Bottom, said Tara Carter, director of operations for Plus MGT.

The good news for tenants, the apartment is 90% full, is that Plus MGT plans to spend $5,000 per apartment on improvements as well as work on the common areas.