Washington D.C.
D.C. Area Not Lacking in Apartments
In a report released at the end of March, the U.S. Census Bureau said that, between July 1, 2012, and July 1, 2013, the population of the Washington, D.C. metro area increased by 87,265, placing the region at number 5 on the list of Top 10 Metro Areas with the Largest Numeric Increase. The Washington, D.C. metro area was also ranked as the seventh largest metro area in the United States, by population, with almost 6 million people living here.
University of Maryland’s $115M Hotel and Conference Center Project Moves Forward
A planned hotel and conference center project at the University of Maryland could transform College Park into a top college town. Recently, this $115 million project has taken an important step towards the start of construction.
New Construction Codes to Help D.C. Become Global Sustainability Leader
Washington, D.C. is committed to becoming the greenest and most livable city in the nation, as well as a global leader in sustainability. On Friday, March 28, the city adopted the 2013 D.C. Construction Code. It features some of the most modern, sustainable, and energy- and water-efficient building practices.
Pantzer Properties Buys Pentagon City Apartment High-Rise for $101.1M
A high-rise apartment community in the heart of Pentagon City has recently changed hands in one of the D.C. area’s largest residential transactions of the year. Pantzer Properties paid $101.1 million to acquire The Bennington from The Carlyle Group and The Bainbridge Companies. The New York-based firm purchased the property through its Panco Strategic Real Estate Fund II, LP.
Washington REIT Buys Army Club Building in DC for $79M
Washington Real Estate Investment Trust continues repositioning its portfolio with the acquisition of The Army Navy Club Building, a Class A office building in Washington, D.C., for $79 million.
JCR Buys Two Properties in DC Area
Last week, The JCR Companies has acquired two properties in the Washington, DC area, adding them to its growing portfolio of urban infill buildings and expanding its reach into the office sector. The two properties are located in Alexandria and in DC’s sought-after Logan Circle neighborhood.
Phase 1 of Wharf, M-U Waterfront Development in DC, Breaks Ground
Development of Phase One of the 24-acre, $2 billion The Wharf project along Washington, D.C.’s Southwest Waterfront got underway this week, eight years after it was proposed.
China-Based Developer to Build Three-story Office, Data Center in Rockville
A China-based developer plans to start work this May on a new, three-story office and data center in Rockville. The Greencourt Group is the pioneer developer in the suburbs of Shanghai and has developed more than 20 million square feet of commercial and residential property in China over the last 18 years. It will construct the new property, called the Greencourt Building, at 12358 Parklawn Drive. The cost of the project was not disclosed.
PREIT to Purchase Springfield Town Center for $465M
A large, D.C. area retail property is getting ready to welcome new owners. Pennsylvania Real Estate Investment Trust (PREIT) has announced on March 3, it has entered into an agreement with Vornado Realty Trust to buy the Springfield Town Center in Springfield, Va. The price of the transaction is huge, $465 million.
Donaldson Group-Angelo, Gordon JV Buys M-F Complex in DC’s Maryland Burbs for $110M
The Donaldson Group and Angelo, Gordon & Co. have acquired Cider Mill Apartments, an 864-unit garden-style apartment community in Montgomery Village, Md.