VIRGINIA BEACH, VIRGINIA: Michael B. Divaris, president of Divaris Real Estate, Inc. (DRE), announced the sale of Coliseum Lofts, a 90,720-square-foot multi-family apartment complex, for $12.3 million. Located at 1343 West Broad Street, in Richmond, Va., the apartment community combines great accessibility to Virginia Commonwealth University with history and style. Coliseum Lofts consist of 107 units over retail shops and restaurants. The sale negotiations were handled on behalf of the buyer, Jerneb Acquisition Corporation, by Zach Means and Larry Agnew of Divaris’ Richmond office.

Divaris Real Estate, Inc. is headquartered in Virginia Beach, VA with offices in Newport News, Norfolk, Richmond and Roanoke, VA; Charlotte, NC; and Washington, DC.  Divaris Real Estate and Divaris Property Management Corp. are divisions of The Divaris Group, an international real estate brokerage and property management company that currently manages and/or leases in excess of 23 million square feet of prime office, retail and industrial space from New Jersey to Florida. Gerald S. Divaris is Chairman of the Board, and Michael B. Divaris is President of Divaris Real Estate, Inc.

Divaris Real Estate is a member of Realty Resources, (http://www.realtyresources.org/) a national group of independent retail property brokers and managers, covering 91 major markets throughout the U.S.  DRE is also the Virginia affiliate for The CORE Network, (http://www.corenetworkcre.org/) a national group of office and industrial brokers with affiliates throughout the U.S., Canada, Mexico, Asia and Europe. These organizations represent corporate and institutional clients, tenants and buyers in all aspects of leasing, development, management, sales and acquisitions.