Washington D.C.
Monday Properties, Goldman Obtain $200M Construction Loan for 1812 N. Moore St.
Monday Properties and Goldman Sachs’ Real Estate Principal Investment Area have closed a $200 million construction loan with Pacific Life Insurance Company for 1812 North Moore Street. The 390-foot building will be the tallest and greenest office tower in the Washington, DC region.
PREA Special Report: Housing Still Surest Bet in CRE
Despite construction costs on the rise and financing still not being up to par to pre-Great Recession times, real estate is still the soundest investment of today and tomorrow, according to commercial real estate high rollers who spoke at Pension Real Estate Association’s 2013 Spring Conference in Washington, D.C.
Insight Prepares to Add TODs Valued at $153M to DC Area
Insight Property Group announced on Monday it recently started work on two major transit-oriented apartment projects in the Washington, DC area. The Arlington, Virginia-based multifamily developer also said it is nearing completion on a third project. The total cost of these three projects is $153 million.
Concord Hospitality to Construct 182-Room Cambria Suites in Nation’s Capital
Choice Hotels International has taken its Cambria Suites in Washington, D.C., project skyward, marking a big step in the $40 million development of the Silver Spring, Md.-based company’s first Cambria Suites property in its own backyard.
Piedmont Acquires 334 KSF Office Building for $176M
Piedmont Office Realty Trust boosted its Washington, D.C., area portfolio this week by acquiring Arlington Gateway, a 12-story, Class A office property and one of the top buildings in the Rosslyn-Ballston corridor, for $176 million.
Hines Acquires Archstone Enterprises’ Interest in CityCenterDC Project
Hines has acquired Archstone Enterprises’ ownership interest in the two companies’ CityCenterDC mixed-use project, currently under construction in downtown Washington, D.C.
Renaissance Washington Completes $30M Hotel Renovation Project
The Renaissance Washington, DC Downtown Hotel, has finished a $30 million renovation project of its rooms and suites. Renaissance Hotels is a lifestyle brand within the Marriott International, Inc.
Cassidy Turley Secures $150M in Acquisition Financing for DC-Area Office Complex
Cassidy Turley secured the financing, in the form of a $150 million loan from a commercial bank, for the recent sale of the three-building, 689,000-square-foot Air Rights Center in downtown Bethesda, Md.
Washington REIT Hires Cassidy Turley to Sell Region’s Largest Institutional-Quality Medical Office Portfolio
The Washington Real Estate Investment Trust (WRIT) has recently selected Cassidy Turley to sell its 1.3 million square foot medical office portfolio in the Washington, D.C. region. The Cassidy Turley team that will market the portfolio is formed of Paul Collins, Bill Collins, Jud Ryan, Drew Flood and James Cassidy. J.P. Morgan will be co-agent.
Looking to Downsize, National Trust to Sell DC HQ to AEI
The American Enterprise Institute and the National Trust for Historic Preservation have completed a purchase and sale agreement for the latter’s long-time headquarters building at 1785 Massachusetts Ave. NW., in Washington, D.C.’s Dupont Circle neighborhood.