Mid-Atlantic

Hotel

Sunburst Exits the Apartment Market with $85M Sale of Suburban D.C. Property

With the disposition of Vista on Courthouse, a 220-unit apartment building in Arlington, Va., Sunburst Hospitality has bid adieu to the apartment market.

Allison Landa - March 11, 2010
Development

Turner Wins $73M Government Contract for DC Office Building Transformation

Thanks to allotted funds from the American Recovery and Reinvestment Act of 2009, the government has maintained a steady stream of construction activity during the recession, and Turner Construction Co. is getting in on the game.

Allison Landa - March 4, 2010
Hotel

Sofitel in D.C. Changes Hands in $95M Deal

Prime opportunities in the commercial real estate market go well beyond the distressed property pool, as evidenced by LaSalle Hotel Properties’ recent all-cash acquisition of the unencumbered Hotel Sofitel Washington, DC Lafayette Square. The Bethesda, Md.-based REIT snapped up the 237-room luxury hotel for $95 million.

Allison Landa - March 3, 2010
Mid-Atlantic

JBG Tapped to Develop $200M Research Campus for National Cancer Institute

Chevy Chase, Md.-based JBG Companies has been chosen to spearhead a new $200 million facility for the National Cancer Institute.

Allison Landa - February 24, 2010
Mid-Atlantic

As Gov’t Demand Buoys DC Office Market; ING Makes $73M Sale

The Washington, D.C., office market may have reached a turning point in demand as the region experienced improved fundamentals last quarter—figures propelled by expanded demand for government office space. And if deals like the recent $73 million sale of an office building in Falls Church, Va., are any indication, buyers are taking interest in the area’s strong demographics..

Catriona Orosco - October 6, 2009
Mid-Atlantic

$49M Exxon Deal a Rarity in Quiet Seal-Leaseback Market

A convenient method for property owners to secure a quick cash infusion, sale-leaseback transactions were plentiful just a couple of years ago, but now it is usually only the more financially burdened of sellers that resort to accepting lowball sale-leaseback offers. Whether White Oak Petroleum L.L.C. falls into the aforementioned category is unclear, but the Springfield, Va.-based company just sold 36 Exxon gasoline station and convenience store properties for $49 million in a sale-leaseback transaction with Jericho, N.Y.-based Getty Realty Corp.

Catriona Orosco - September 30, 2009
Mid-Atlantic

JV Snags 308-Unit Philly-Area M-F Complex

A joint venture between Behringer Harvard REIT I Inc. and PGGM Private Real Estate Fund has acquired a 308-unit multi-family community in Cherry Hill, N.J., about seven miles east of central Philadelphia.

Catriona Orosco - September 22, 2009