Deal Tracker
ARLINGTON, VA–Carr Properties and the Arlington County Board broke ground on 2311 Wilson Blvd. The 175,000-square foot, eight-story building will be anchored by OPower's corporate headquarters. It will deliver at the end of 2017.
WASHINGTON, DC–The US Department of Housing and Urban Development's Lean mortgage insurance program, which finances seniors housing properties, closed $2.84 billion of loan volume for the fiscal year ending Sept. 30, 2016 — a 5% increase compared to 2015. Lancaster Pollard led all lenders in transactions closed and total loan amount, at 60 and $554.4 million respectively.
WASHINGTON, DC–GreenGen, a DC region-based company that provides engineering and energy efficiency upgrades in commercial properties, landed a GSA contract valued at more than $1 million to implement energy conservation measures and ongoing energy management services at federal buildings in seven Michigan locations, including Saginaw, Ann Arbor, Flint, and four major federal facility locations in Detroit.
WASHINGTON, DC–HFF announced it was the broker that arranged a previously reported $66.5 million refinancing for 900 G Street, a 112,635-square-foot office building in Washington, DC. Sue Carras, Cary Abod, Dan McIntyre and Rob Carey worked on behalf of ASB Real Estate Investments to secure the loan through Prudential Mortgage Capital Co.
ALEXANDRIA, VA–A joint venture between Fundrise affiliate RSE Capital and Insight Property Group acquired a two-property multifamily portfolio totaling 354 units in Northern Virginia for $57.9 million. Dean Sigmon and Robin Williams, co-directors of Transwestern's Mid-Atlantic Multifamily Group, represented seller in the transaction. The properties are Sacramento Square Apartments, located at 5401 Claymont Dr., which was purchased for $37.75 million, and Lancaster Mill, located at 13940 Longwood Manor Ct., which sold for $20.15 million.
HYATTSVILLE, MD–PCCP, LLC and the Washington DC-based Fore Property Co. have formed a JV to develop The Edition, a five-story, Class A, 351-unit apartment community in downtown Hyattsville. The Edition will be located on a 3.65-acre site that is part of an 11‐acre mixed-use master development, which housed a Kiplinger magazine publishing plant at one time. Located at 3401 East-West Highway, The Edition is expected to deliver in Spring of 2019.
WASHINGTON, DC–The Calkain Urban Investment Advisors team of Andrew Fallon and Rick Fernandez recently brokered the sale of 433 Massachusetts Ave. NW, — a retail property in the Mount Vernon Triangle. Submarket. The property sold for $3.9 million, at a 5.38% cap rate on net operating income. The 5,021 square foot building is 100% triple net leased to Le Pain Quotidien and Solidcore, a fitness studio. The New York based buyers acquired the property as part of a 1031 exchange.
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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.
