Mid-Atlantic
Canyon-Johnson Equity Paves Way for New Baltimore-Area Mixed-Use Project
The Oxford Square transit-oriented development project in Hanover, Md., just got a substantial boost–in the form of preferred equity capital totaling $17.5 million from Canyon-Johnson Urban Funds. And while mixed-use projects are hardly rare in the area today, BRAC promises to increase demand in the near future.
Brandywine Snaps Up 1MSF Philly Office in $129M Deal
Three years ago, the entire industry would have scoffed at the idea of acquiring the leasehold interest in a premier 1 million-square-foot Philadelphia office building for a measly $129 million, but Brandywine Realty Trust has succeeded in doing just that.
Akridge Lands 120,000-SF D.C.-Area Government Office Property in Steal of a Deal
Now that Akridge and Rockwood have taken the property off the hands of the U.S. General Services Administration, the federal government’s real estate division, the team plans to submit the building to a major upgrade in order to mold it into a Class A office facility.
MGM Resorts to Pocket $73M on Sale of Ground Leases and Land at Atlantic City’s Borgata
Having reached an agreement with Paramus, N.J.-headquartered REIT Vornado Realty Trust and Los Angeles-based Geyser Holdings, MGM Resorts International has taken the next step in the planned disposition of assets at The Borgata Hotel Casino & Spa.
Government Contractor Leases Nearly 100,000 SF in Northern Virginia
The federal government and government contractors like ASM Research Inc. continue to liven up the market in suburban Washington, D.C. The technology solutions provider has just signed a new lease for approximately 91,400 square feet of premier space at the 410,000-square-foot Centerpointe office complex in Fairfax, Va.
JER Turns a Profit on Sale of 395-Room Fairview Park Marriott in Coveted DC Market
Both McLean, Va.-based JER and Annapolis, Md.-based Thayer are keeping mum on the price tag attached to the Fairview Park Marriott transaction, but Devin Chen, Managing Director at JER, told CPE that the company definitely turned a profit on the deal.
SK Properties Rebrands, Changes Name to Kushner Real Estate
With the retirement of one of its founders, one of New Jersey’s largest privately held diversified real estate companies has decided to take on some changes.
Distressed Luxury Apartment Community in D.C. Changes Hands – Again – In $162.3M Deal
Senate Square, a three-year-old 432-unit apartment complex in Washington, D.C., has changed hands for the third time in less than a year, going from the developer’s hands to the lender, from the lender to Westbrook Partners, which, after shelling out $124.5 million for the property, has just sold it to LaSalle Investment Management for just over $162.3 million.
CWCapital Provides $151M FHA Construction Loan for D.C. Apartment Project
With a location at the intersection of 1st and M streets, N.E., in the nation’s capital, Englewood, Colo.-based Archstone’s 13-story Class A apartment tower will sit in the city’s NoMa district near Union Station and the U.S. Capitol. In addition to the residences, 1st & M will feature 2,500 square feet of ground-level retail space, a library, activity studios and a 16,000-square-foot courtyard.
TD Taps Proctor as SVP, Commercial Real Estate Market Director
Proctor, who has 23 years of experience in banking, lending and finance throughout the metropolitan Philadelphia and New Jersey markets, will manage and expand the bank’s existing commercial real estate platform. That platform encompasses offices in Cherry Hill, N.J., King of Prussia, Penn., and Philadelphia.