NEWS & NOTABLES
WASHINGTON, DC–Elizabeth Birch has joined CBRE's Advisory & Transaction Services | Occupier team as a vice president in its Washington, DC office. Birch will focus on helping associations, nonprofits and law firms with their real estate strategies. Birch joins CBRE following more than a decade as CEO of the Elizabeth Birch Co.
WASHINGTON, DC–Colliers International Group has been awarded the 2017 NAIOP Northern Virginia Award of Merit for the Real Estate Transaction Sale of the Route 28 Flex Portfolio. The award was accepted by Colliers International Executive VP David Gast. Gast represented Buchanan Partners in the purchase of the portfolio, for just over $81 million.
WASHINGTON, DC–Newmark Knight Frank has promoted David Hardcastle to managing director. Hardcastle will continue to specialize in tenant representation, research, analysis and lease negotiation in the Washington metropolitan area. He joined NKF in 2010 as an associate and most recently held the position of director.
DEAL TRACKER
WASHINGTON, DC–MRP Realty and Ellis Development Group, in partnership with JBG SMITH, have broken ground on their new mixed-use development, The Wren, located at 965 Florida Ave., NW. The Wren is a 289,686-square-foot development in the Shaw neighborhood. The building features 433 residential units, of which 132 units will be affordable. Anchoring the ground floor will be a 43,406-square-foot Whole Foods – the seventh location of the grocery retailer in the District and its first store here since being purchased by Amazon.
WASHINGTON, DC–MAC Realty Advisors, on behalf of W-G 9th and O, LLC, an affiliate of Four Points and Greencourt Capital, arranged a $14 million mezzanine investment from Aria Development Capital as well as a $35.3 million senior construction loan from CapitalSource, a division of Pacific Western Bank for the development of 810 O St., NW, a condo that will be called The Peria. Four Points will develop a new nine-story concrete high-rise building on the existing lot. It will have 66 luxury condominium units and 6,800 square feet of ground level retail.
NEWPORT NEWS, VA–Hunt Mortgage Group has provided loan facilities to two multifamily properties for the same sponsor. The properties are located in Virginia and Maryland and the total Hunt Mortgage Group Investment is $22.84 million. The properties are Trellis at Lees Mill Apartments in Newport News, Va., and Hickory Hill Apartments in Frederick, Md.
CARY, NC–HFF has provided $37.55 million in acquisition financing for Brook Arbor, a 302-unit, apartment community. Working on behalf of the borrower, Taurus Investment Holdings, the HFF team placed the 10-year, floating-rate loan with five years of interest only payments with Freddie Mac's CME Program. Loan proceeds were used to capitalize the purchase of the property, which represents Taurus' second acquisition in North Carolina.
NEWS & NOTABLES
WASHINGTON, DC–Elizabeth Birch has joined CBRE's Advisory & Transaction Services | Occupier team as a vice president in its Washington, DC office. Birch will focus on helping associations, nonprofits and law firms with their real estate strategies. Birch joins CBRE following more than a decade as CEO of the Elizabeth Birch Co.
WASHINGTON, DC–Colliers International Group has been awarded the 2017 NAIOP Northern
WASHINGTON, DC–Newmark Knight Frank has promoted David Hardcastle to managing director. Hardcastle will continue to specialize in tenant representation, research, analysis and lease negotiation in the Washington metropolitan area. He joined NKF in 2010 as an associate and most recently held the position of director.
DEAL TRACKER
WASHINGTON, DC–MRP Realty and Ellis Development Group, in partnership with JBG SMITH, have broken ground on their new mixed-use development, The Wren, located at 965 Florida Ave., NW. The Wren is a 289,686-square-foot development in the Shaw neighborhood. The building features 433 residential units, of which 132 units will be affordable. Anchoring the ground floor will be a 43,406-square-foot Whole Foods – the seventh location of the grocery retailer in the District and its first store here since being purchased by Amazon.
WASHINGTON, DC–MAC Realty Advisors, on behalf of W-G 9th and O, LLC, an affiliate of Four Points and Greencourt Capital, arranged a $14 million mezzanine investment from Aria Development Capital as well as a $35.3 million senior construction loan from CapitalSource, a division of Pacific Western Bank for the development of 810 O St., NW, a condo that will be called The Peria. Four Points will develop a new nine-story concrete high-rise building on the existing lot. It will have 66 luxury condominium units and 6,800 square feet of ground level retail.
NEWPORT NEWS, VA–Hunt Mortgage Group has provided loan facilities to two multifamily properties for the same sponsor. The properties are located in
CARY, NC–HFF has provided $37.55 million in acquisition financing for Brook Arbor, a 302-unit, apartment community. Working on behalf of the borrower, Taurus Investment Holdings, the HFF team placed the 10-year, floating-rate loan with five years of interest only payments with
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
