JEMB pays $200m for Virginia office complex.JEMB JEMB Joint Environmental Management Board (US DoD) Realty realty n. a short form of "real estate." (See: real estate) REALTY. An abstract of real, as distinguished from personalty. Realty relates to lands and tenements, rents or other hereditaments. Vide Real Property. announced the acquisition of James Center, a Class A office complex located in downtown Richmond, VA. Total capitalization Total capitalization The total long-term debt and all types of equity of a company that constitutes its capital structure. total capitalization See capitalization. for the acquisition was $200 million. Joseph Jerome, principal of JEMB Realty, made the announcement. "JEMB's acquisition strategy is to identify emerging markets and purchase the dominant assets within the developing districts," stated Mr. Jerome. "The James Complex is exactly that--the premier commercial office building in the Richmond market. "The James Center acquisition is our first foray into Verb 1. foray into - enter someone else's territory and take spoils; "The pirates raided the coastal villages regularly" raid encroach upon, intrude on, obtrude upon, invade - to intrude upon, infringe, encroach on, violate; "This new colleague invades my Richmond, VA. As the 13th largest home to major US corporations with a Class A office vacancy under 10%, Richmond holds great promise for JEMB. Strategic upgrades coupled with a targeted marketing campaign will unlock the full value of this trophy asset." |
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