Thalhimer Realty Partners

Thalhimer Realty Partners is the development arm of the Thalhimer real estate organization, based in Richmond, Virginia, and affiliated with Cushman & Wakefield | Thalhimer. The firm develops and owns mixed-use, multifamily, office and retail properties across Virginia and the Mid-Atlantic, with a track record in adaptive reuse and historic rehabilitation of older urban buildings alongside ground-up work. It also partners with municipalities on large public-private redevelopment districts. Thalhimer leads Diamond District Partners, the master developer of Richmond’s 67-acre Diamond District, and in July 2026 broke ground on Dōma, a six-story, 276-unit apartment building at 2707 Diamond View Drive. Dōma carries an $80 million budget excluding land and is the first privately financed vertical building on the site.

Thalhimer Realty Partners runs out of 11100 West Broad Street in Glen Allen, just outside Richmond – an 80,000-square-foot office building the firm developed itself and named Thalhimer Center. The portfolio managed from there is valued at more than $1 billion across commercial and multifamily assets.

The business splits cleanly in two.

Development is concentrated in the Richmond region and mixes ground-up and repositioning work: City View Lofts at 219 units, alongside the City View Marketplace, City View Row and Overlook at City View cluster in Manchester; Courtyard Lofts at Scott’s Addition; the 458,307-square-foot Regency mixed-use conversion on North Parham Road; Westhampton Commons; the Padel Plant retail project at 1201 Haxall Point; and industrial product including the 262,205-square-foot Crescent Business Center in Ashland.

Acquisitions reach considerably further. The firm owns apartment communities in Virginia Beach, Norfolk, Chesapeake, Hopewell, Harrisonburg and Williamsburg, plus North Carolina holdings in Durham, Raleigh, Chapel Hill and Carrboro and a 168-unit property in Florence, South Carolina. Among the larger assets are Towers on Franklin at 332 units, Sundance Station at 300, Indian Lakes at 296, and Dabney Center, a 642,000-square-foot industrial complex in Henrico.

The team is small relative to that footprint: managing principal Evan Magrill, six principals, a director of development, a development manager and an asset manager. The leverage comes from the affiliation with Cushman & Wakefield | Thalhimer and its network of more than 160 commercial brokers and property managers, which supplies leasing, management and market read-through that a standalone development shop would have to build for itself. The firm states its aim as acquiring, positioning and operating properties to maximize long-term cash flow for investment partners rather than trading assets quickly.