Adrian Maties
Friedkin Realty Buys Bowie Apartment Community for $72M
Investors continue to raid the Washington, D.C. area for multifamily assets. The latest buyer to make its presence known in the region is the Friedkin Realty Group. This San Francisco-based real estate company has recently paid $71.8 million to buy the Meridian at Bowie, in Prince George’s County.
Bechtel to Relocate Frederick Operations to Fairfax County
Bechtel Corporation is expanding its presence in Fairfax County. The company plans to invest $10 million and relocate its Frederick, Maryland operation to Northern Virginia. Governor Terry McAuliffe made the announcement last week, also saying that the construction giant is bringing 700 jobs with it.
Value Place Opens Virginia Property No. 8
Value Place, the nation’s largest economy extended-stay hotel brand, has announced earlier this month the opening of a new hotel in Virginia Beach. The newly-constructed property is the brand’s eighth hotel in the state of Virginia. Other locations include Chesapeake, Richmond, Gainesville, or Manassas.
Annapolis Apartment Community Sells for $105M
A large, Class B multifamily property in Greater Baltimore changed hands last month. Columbia Realty Venture, LLC, an affiliate of Bernstein Management Corporation, sold the Watergate Village apartment community to Elie Rieder, CEO of Castle Lanterra Properties, for $105 million.
New Radisson Hotel Opens in the Baltimore Area
Radisson is expanding in the Baltimore area. The brand has recently opened a new hotel in Timonium.
Mason City Council to Consider $150M Project
A $150 million project will bring more than 200 new homes to the Greater Cincinnati area. Developer CT Devco Inc. plans to built the new upscale residential community on the site of a former golf course, in Mason.
Mazak Completes $30M Project in Florence
Last month, the Mazak Corporation, a machine tool manufacturer based in Japan, finished the renovation and expansion of its manufacturing facility in Northern Kentucky. The cost of the two-year project was $30 million.
D.C.’s Dunbar High Becomes Greenest School in World
Washington, D.C.’s Dunbar High School is now one of the greenest new schools in the world. The school has recently received LEED Platinum certification. It is the highest distinction awarded by the U.S. Green Building Council.
Steadfast Apartment REIT Buys 192-Unit Asset
Steadfast Apartment REIT has made another multifamily acquisition in the Midwestern United States. At the end of February, the REIT announced it has purchased the Columns on Wetherington apartment community for $25 million. Steadfast has so far invested more than $290 million in eight apartment communities, in six Midwestern and Southern states.
LSU Delays Groundbreaking for $12M Tiger Athletics Nutrition Center
Louisiana State University will not start work on its new Tiger Athletics Nutrition Center this spring. Joe Alleva, LSU Vice Chancellor and Director of Athletics, has recently announced that the athletic department is going to delay breaking ground on the $12 million project until further notice.