Washington D.C.
Starwood Wraps Up $1.6B Mall Portfolio Purchase
Starwood Capital Group has just completed its second major portfolio purchase from Westfield Group, snapping up seven regional malls in the West and Midwest for just over $1.6 billion.
Walton Enters into Agreement with NVR to Build Homes at Westphalia Town Center
The Walton Group of Companies broke ground earlier this year on the massive Westphalia Town Center in Upper Marlboro, Maryland. Now, the Canadian developer has signed Reston-based NVR, Inc. as the first residential homebuilder for the the master planned, mixed-use community.
Inland, MAB Launch $325M Retail Development Plan for Southeast
The joint venture’s five-year development plan will target demographically strong metropolitan areas in the Carolinas, Georgia, Florida, Virginia and Washington, D.C., and is expected to result in the construction of as many as 20 new grocery-anchored shopping centers.
DC Metro Area Attracts Steady Pace of Office Investment Sales
In recent months, an important number of office properties changed hands in the Washington, D.C. area. There have been a lot of big transactions (Read about some of them here and here) and even some huge transactions(You can find some of them here, here, here and here), but, according to a report by Marcus&Millichap, over the past year, investors have been more interested in purchasing properties worth between $1 million and $10 million.
ULI Special Report: DC Falls in Investors’ Eyes
The 2014 Emerging Trends in Real Estate report contained few surprises, but traditionally durable Washington, D.C.’s drop to No. 22 in the ranking of cities with the best investment activity speaks volumes about the uncertainty the federal government has produced.
Avison Young Expands in Metro DC with McShea Acquisition
Toronto-headquartered Avison Young’s aggressive, methodical growth plan continues as the CRE services firm increases its footprint in metropolitan Washington, D.C., with the acquisition of McShea & Co.
Alexandria’s Virginia Village Sold for $68M
Another apartment community in the Washington Metro area, one of the best apartment markets in the nation, has changed hands in a multi-million dollar deal. Fieldstone Properties has paid $68 million for Virginia Village, in Alexandria, Virginia.
AFL-CIO BIT to Sell Five-Building Portfolio in Tysons Corner
In August, 2011, the AFL-CIO Building Investment Trust added a five-building portfolio in Tysons Corner to its Washington, D.C.-area properties. Now, the trust is looking for buyers for the same portfolio.
First Potomac Assumes Control of Redland Corporate Center with $30M Acquisition
First Potomac Realty Trust announced this week the acquisition of Redland I, the third building at Rockville’s Redland Corporate Center. Redland I cost First Potomac $30 million and marks the first acquisition the company completed since late 2011.
Dune, Penzance JV Acquires 188 KSF Office Building in DC for $64M
Federal Capital Partners and Penzance have sold the office building at 1101 Connecticut Ave. NW, in Washington, D.C. to a new joint venture, well, half-new. Penzance teamed up with Dune Real Estate Partners to acquire the downtown asset for $64 million.