Washington D.C.
Trio of Lenders Provide $850M for Tysons Corner Center Refi
Prudential Mortgage Capital, Northwestern Mutual and TIAA-CREF each chipped in $283 million, for a total $850 million, to refinance Tysons Corner Center in metro Washington, D.C.
Bethesda to Gain More Than 600 Apartments in 2015
More apartments are coming to one of the most affluent and highly educated communities in the United States, as two developments in Bethesda have recently taken important steps in the development process. By 2015, they will deliver over 600 new residential units to the hot D.C. suburb.
Rockrose Buys 2000 L St. Office Building in DC from Brookfield for $192M
Washington, D.C., witnessed the closing of another huge office transaction this week, as the Rockrose Development Corp., in its quest to increase its presence in the District’s office market, acquired the building at 2000 L St., NW, for $192 million, or about $479 per square foot.
Cassidy Turley Incorporates Western Region Affiliates into Firm
Following a trajectory it set for itself three years ago when the firm first launched, Cassidy Turley has merged its former affiliates in Arizona, Colorado, Northern California and San Diego into the firm, and all are now fully owned by the commercial real estate service provider.
UIP Completes M-F Property Renovation, Drawn to Popular Adams Morgan Neighborhood
A $7.5 million renovation project has brought new life to an old apartment building located at 1841 Columbia Road, NW, in the heart of D.C.’s Adams Morgan neighborhood. Originally built in 1930, the building once known as “The Alcazar” now features energy-efficient HVAC systems, a green roof, residents’ roof deck with panoramic views of the city and much more.
HFF Arranges $99M Financing for M-U development in DC
Washington, D.C.’s U Street/North Shaw submarket will see a former plumbing supply company transformed into a 375-unit, Class A, mixed-use development aimed at young professionals.
Washington Property Closes $75M Permanent Loan for M-F Asset in Suburban DC
Washington Property Co. has landed $75 million in permanent financing for Solaire-Metro, the CRE concern’s 295-unit luxury apartment community in the suburban Washington, D.C., city of Silver Spring, Md.
Design Unveiled for Trump International Hotel in DC
Trump Hotel Collection has released its plan for the $200 million redevelopment of The Old Post Office in Washington, D.C., which will transform the iconic Pennsylvania Avenue landmark into the Trump International Hotel.
Balfour Beatty Construction Selected for George Mason University Student Housing Project
The George Mason University in Fairfax is growing and looking to become an active 24/7 campus. To help meet the continuing demand for undergraduate housing, the university has selected Balfour Beatty Construction to lead the design-build team for their new student housing facility, Shenandoah Housing VIIIB, also called Taylor Hall. Balfour Beatty Construction has worked on three other projects for George Mason University, including the construction of another housing facility.
Robust Suburbs Help Make Capital the Nation’s Tightest Office Market
The National Association of Realtors recently reported that the Washington, D.C. area currently has the lowest office vacancy rate in the nation. With a vacancy rate of 9.7%, Washington D.C. is just under New York City, with a 9.8% vacancy rate, Little Rock, Arkansas, 12.1%, and Birmingham, Alabama, 12.4%. Washington Property Company, a full-service commercial real estate company based in Bethesda, played its part in lowering the area’s office vacancy rate.