Conserve Holdings Expands Richmond Portfolio with Acquisition of The Sphere
October 29, 2025
Richmond, VA – [10/28/2025] – Conserve Holdings announced today the acquisition of The Sphere, a Class A, 224-unit, multifamily community in Richmond, Virginia. This marks Conserve’s second acquisition in the Richmond market, following the recent purchase of The Spectrum, which is located directly adjacent to The Sphere.
This acquisition was completed in joint venture with Calibogue Capital, further strengthening Conserve’s relationships with institutional capital. Financing was arranged by Alex Bassile and the team at Greystone, and Garrison Gore of Newmark represented our partner in the transaction.
“Our expansion in Richmond continues with The Sphere, a community that perfectly complements The Spectrum next door,” said David Walkin, Principal of Conserve Holdings. “This acquisition highlights our belief in Richmond’s long-term growth and underscores our strategy of acquiring high-quality communities in key markets.”
About Conserve Holdings
Conserve Holdings is a real estate investment and development firm focused on value-add, adaptive-reuse, and multifamily projects across the U.S. Sunbelt and Mid-Atlantic
regions.
About Calibogue Capital
Founded in 2012, Calibogue Capital is a New York–based real estate private equity firm focused on joint-venture equity investments across the US with multifamily, industrial, and retail sponsors. The company is presently deploying its fourth discretionary fund.