District Bay | Verris Capital Principals form District Bay Realty Advisors (Washington, DC)
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Verris Capital Principals form District Bay Realty Advisors (Washington, DC)

Verris Capital Principals form District Bay Realty Advisors (Washington, DC)

admin 10.06.2016 Uncategorized

Two of the principals from Verris Capital, Michael Wheeler and Kelly Cooper, have formed a new, vertically integrated commercial real estate firm, District Bay Realty Advisors (District Bay LLC).

 

Both Mr. Wheeler and Ms. Cooper plan to build on their successful investment track record at Verris, by providing full service solutions to investment partners and third party clients via a newly launched property services platform.

 

With offices in Washington, DC and San Francisco, CA, District Bay will focus on value add and opportunistic acquisitions across select markets in the United States, in addition to providing best in class third party property services.

 

An affiliate entity of District Bay Realty Advisors and it’s DC and NY based partners recently purchased the Bank of America Center in Richmond, VA.  The property, just two blocks from the state capitol, is the 3rd tallest building in the city and a landmark of the Richmond skyline.

 

District Bay has embarked on a multi-million dollar exterior and courtyard renovation  to reinvigorate the building’s appearance and bring it back its former glory.  The renovation is expected to be completed by mid-year 2017.

 

District Bay Managing Partner, Michael Wheeler commented “We see this as a generational asset for our young company and one we hope to control for the foreseeable future.  Richmond is an important market for us and one where we continue to see tremendous potential as our portfolio there grows.”