Adrian Maties
Monument Buys Richmond M-F Property
Interest in Virginia multifamily properties continues to stay strong. In the past few months, investors have acquired several apartment communities all over the state. The latest transaction took place in the healty Richmond market.
APAH Breaks Ground on Affordable Housing in Arlington
On Wednesday, March 11, the Arlington Partnership for Affordable Housing celebrated the groundbreaking for Arlington’s newest affordable housing community, The Springs Apartments. Housing professionals, local officials and other members of the community were present at the ceremony, held at 4300 N. Carlin Springs Road, close to The Springs site.
Developer Breaks Ground on 195-Room Hotel in D.C.’s Capitol Riverfront
Developers are looking to add another hotel to the Washington, D.C. metropolitan area. On March 10, Bethesda-based Englewood LLC announced the start of construction for the new Homewood Suites by Hilton in the District’s Capitol Riverfront neighborhood. The cost of the project was not disclosed.
Two Greater Baltimore Office Properties Change Hands
Two Greater Baltimore office properties have changed hands at the start of the month. The building at 999 Corporate Boulevard, in Linthicum, and the one at 1614 Churchville Road, in Bel Air, sold for a total of almost $9.5 million.
Epic Piping to Build Fabrication Plant, HQ for $45M
At the start of March, Governor Bobby Jindal announced that EPIC Piping will invest $45.3 million in Livingston Parish, to establish an advanced pipe fabrication facility and corporate headquarters. The governor called the project an important economic development win for the region, as did other local officials.
MCR Acquires Milford Hotel in $206M Portfolio Buy
MCR Development LLC, one of the largest hotel owner-operator in the United States, is expanding its U.S. portfolio of properties. The New York City-based company has recently announced the acquisition of 18 Marriott and Hilton hotels for approximately $206 million. One of the properties is located in Greater Cincinnati.
Two Northeast Ohio Hotels Ready to Receive Guests
Visitors to the Northeast Ohio area now have two more hotels to choose from. The new Hyatt Place Canton and the newly renovated Residence Inn by Marriott Cleveland Independence offer together more than 220 rooms.
Mason Industrial Property Sells for $4.7M
The metro area’s latest industrial transaction has occurred in Mason. The Cincinnati Fan property, at 7697 Snider Road, was recently acquired by Robinson & Sons, LLC, for $4.7 million. The industrial manufacturing facility is located on a 17.6-acre site. It offers 122,898 square feet of space.
AFIAA Buys Historic Building in D.C.’s Chinatown
AFIAA, a Zurich-based investment foundation of 35 Swiss pension funds, has recently expanded its D.C. portfolio of commercial properties, with the acquisition of a historic building in the heart of Chinatown. The property is called Arch Square. It traded for about $104 million.
Duke Realty To Sell Huge Office Building In Greater Cincinnati
Duke Realty Corp. is moving forward with its plan to transform its portfolio into primarily industrial and medical office assets. The Indianapolis-based company has recently put one of its largest class A office buildings in the Greater Cincinnati area on the market.