Washington D.C.
Carroll Organization Buys 319-Unit Class A Property in Houston
Carroll Organization has acquired City Lake, a best-in-class 319-unit apartment complex in Houston that it has renamed ARIUM City Lake.
Watergate Hotel to Open Next Summer
In just a few months, Washington, D.C.’s iconic Watergate Hotel will once again be ready to receive guests. Euro Capital Properties, an international real estate developer based in New York and the property’s current owner, has recently announced that the hotel is scheduled to open in summer 2015, following an extensive $125 million renovation.
Finmarc Buys Laurel Commerce Center for $6M
Finmarc Management, Inc. has recently announced the acquisition of another commercial property in the Greater Washington, D.C. area. The Bethesda-based commercial real estate firm has purchased the Laurel Commerce Center for $6 million.
Comstock Starts Work on Estates of Falls Grove
More homes are coming to the Falls Grove community in northern Prince William County. Comstock Homes of Washington, LC, a wholly owned subsidiary of Comstock Holding Companies, Inc., the community’s developer, has recently announced the start of construction for a new phase at the development. Named the Estates of Falls Grove, it calls for the construction of 19 more single family detached homes.
TIAA-CREF Buys D.C.’s Flats 130 at Constitution Square
TIAA-CREF has added another multifamily property to its Washington, D.C. portfolio. The national financial services organization has recently purchased the Flats 130 at Constitution Square for an undisclosed price. The seller was a joint venture between Bethesda-based StonebridgeCarras and an affiliate of Walton Street Capital, L.L.C., from Chicago.
UMD Breaks Ground on A. James Clark Hall
On Friday, November 21, The University of Maryland’s A. James Clark School of Engineering hosted a groundbreaking ceremony for the new A. James Clark Hall, in College Park. The new building will be a home for the bioengineering department and will offer state-of-the-art laboratories. According to the university, it will also help ”accelerate advancements in human health.”
AMC Delancey Sells Radisson Largo-Washington, D.C., for $10.5M
A Washington, D.C.-area hotel has recently changed hands. Philadelphia-based AMC Delancey sold the Radisson Largo-Washington, D.C. to an unnamed buyer for $10.45 million or about $56,800 per room.
Grosvenor Americas Renovates 1701 Pennsylvania Ave., Adds Three New Tenants
Grosvenor Americas has recently completed the renovation of one of its properties in Washington, D.C. The trophy office building at 1701 Pennsylvania Avenue now features a new, modern HVAC system.
St. John Properties Pays $11.7M for Three OfficeFlex Buildings in Sterling
St. John Properties, Inc. has recently acquired a three-building office/flex portfolio in Sterling. The company paid $11.65 million to buy the properties from an affiliate of Lone Star Funds. With this acquisition, St. John’s Northern Virginia portfolio now includes more than 570,000 square feet of office and flex space and about 83 acres of land for future developments.
Smithsonian Unveils Plans for $2B South Mall Campus Renovation
By Adrian Maties, Associate Editor The Smithsoninan plans to renovate its South Mall campus. Last week, the institution unveiled a $2 billion master plan to revitalize the museums and gardens along Independence Avenue S.W., from Seventh to 12th streets. Denmark-based Bjarke Ingels Group, a noted international architectural firm, was hired to design the plan. It […]