The National is sold for less than its assessed value
RICHMOND, Va. — A downtown music venue was sold last week to a massive West Coast entertainment company.
The National was purchased on Sept. 30 for $6.7 million by an entity tied to Los Angeles-based AEG Live, a concert promoter and venue operator whose parent company owns sports arenas and professional sports teams around the world.
AEG Live bought the property at 708 E. Broad St. through Mid-Atlantic Propco LLC, according to city records.
The National was sold by RIC Capital Ventures LLC, a company that for the last 11 months had been entangled in a legal dispute among its owners over how the business and its money were being managed.