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Lindley Estes is a business writer for The Free Lance-Star and Fredericksburg.com. This blog is on Fredericksburg-area business. Send an e-mail to Lindley Estes.

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Virginia Partners Bank buys interest in downtown HQ

This downtown Fredericksburg property is home to Virginia Partners Bank’s headquarters branch.

Virginia Partners Bank now owns a 50 percent stake in the downtown Fredericksburg property that houses the bank’s headquarters branch.

An affiliate of Virginia Partners last month bought an undivided one-half interest in the 9,000-square-foot building at 410 William St.

The sales price for the 50 percent stake in the property was about $1.3 million, according to city records. The building is tax-assessed at about $2.3 million.

An LLC composed of siblings Fitz Johnson, Bill Johnson and Ginnie Branscome will continue to own the other 50 percent of the property, and Virginia Partners will continue to lease that part.

Permalink: http://news.fredericksburg.com/businessbrowser/2013/01/02/virginia-partners-bank-buys-interest-in-downtown-hq/

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