Washington D.C.
Clarion, Kettler Team on $154M High-Rise Apartment Project in Tight Suburban Washington Market
Scheduled to start construction this summer, the 411-unit high-rise will complete Metropolitan Park, a trio of upscale multi-family rental properties developed by Clarion and Kettler in Virginia’s Pentagon City submarket.
Silver Spring’s Station Square Sold for $120.6M
By Adrian Maties, Associate Editor Brandywine Realty Trust announced on Monday, June 25, that its Brandywine-AI Joint Venture has agreed to purchase three office properties in Silver Spring, Md. The acquisition price for the three-building portfolio was $120.6 million, or $241 per square foot. Known as Station Square, the portfolio totals 499,395 square feet. It […]
Brandywine-Allstate JV Takes Suburban D.C. Portfolio for $120.6M
The joint venture will acquire the three-building asset in Silver Spring, Md., from Urdang’s Value-Added Fund II and Moore & Associates.
Kettler Launches New Format in Growing D.C. Rental Market
By Adrian Maties, Associate Editor As the Washington, D.C., apartment market continues to grow–with vacancy rates dropping and rents rising–some developers are trying to take advantage of the favorable climate. Among them is Kettler Inc., a McLean-based company that just announced plans to launch its new m.flats format when it breaks ground in August on […]
Penzance, Invesco Get $94M Construction Financing for 280 KSF D.C. Development
Ground has broken on the trophy office project at 3001-3003 Washington Blvd. in suburban Washington, D.C., and Penzance and Invesco Real Estate have just gotten their hands on $94 million in construction financing for the 280,000-square-foot destination.
Grandbridge Originates $121M Financing on D.C.-Area Multi-Family Building
Grandbridge Real Estate Capital originated a $121.1 million first-mortgage loan for the acquisition of The Buchanan, a 442-unit multi-family high-rise in Arlington, Va.
Archstone Starts Work on 227-Unit North Arlington Project
By Adrian Maties, Associate Editor Archstone, a recognized leader in apartment investment and operations, started work on June 5 on a brand-new 227-unit apartment community in North Arlington, one of the most affluent neighborhoods in the Washington, D.C., metropolitan area. The project is named Parkland Gardens. The development site is located at the intersection of […]
CommonWealth Buys Trophy D.C. Building from Shorenstein for $198M
Hamilton Square, a former department store repurposed into an office building situated only a block from the White House, has been purchased by CommonWealth Partners from Shorenstein Properties for $198 million.
International Law Firm Signs as Anchor Tenant for $950M CityCenterDC Project
International law firm Covington & Burling L.L.P.’s search for its new global headquarters in Washington, D.C., has ended with it agreeing to become the anchor office tenant in the $950 million CityCenterDC mixed-use project, signing a letter of intent to occupy approximately 420,000 square feet of space.
Home Properties Buys Two Virginia Apartment Communities for $112.2M
By Adrian Maties, Associate Editor Home Properties Inc. (NYSE: HME) on May 23 announced that it paid a total of $112.2 million in recent weeks for the acquisition of two Virginia apartment communities. Hunter’s Crossing in Leesburg was purchased on May 11 for $16.2 million, or approximately $99,000 per apartment unit. Woodway at Trinity Centre in […]