The National was sold for $6.7 million and assessed at $11.06 million.
The National has a new owner after AEG purchased it for $6.7 million. Relations have been a little rough between the various investors in the music venue and that tension most recently manifested itself in a lawsuit on how the business was being run and money being managed.
More details from Richmond BizSense.com.
AEG is part of Anschutz Entertainment Group, which owns the Staples Center in Los Angeles, several Major League Soccer teams, and the National Hockey League’s Los Angeles Kings.
RIC Capital Ventures purchased the National property which was built in 1923, for $1.6 million and reopened it in 2008. RIC Capital renovated the property to the tune of about $15 million, and the project received about $4.5 million in state and federal historic tax credits.
Last week’s sales price of the National represents a fraction of the venue’s value according to city records. It was most recently assessed at $11.06 million.