COLUMBIA, MD–Corporate Office Properties Trust has executed a long-term lease with a subsidiary of an investment-grade Fortune 500 company to deliver a 215,000-square-foot shell building on land it owns in Bethlehem Technology Park in Manassa. COPT expects to deliver the building before the end of the third quarter in 2017.
COLLEGE PARK, MD–Greystar Real Estate Partners and private equity firm Rockpoint Group have acquired student housing facility University View at the University of Maryland. They are planning to make upgrades to the two-building property, which has a total 1,573 beds, or 507 units, and 9,218 square feet of ground floor retail space.
BETHESDA, MD–Berkeley Point Capital has hired Ron Steffenino as the Senior Managing Director – Servicing, Asset Management and Special Asset Management (Loss Mitigation). He will manage a servicing portfolio of $53 billion. Steffenino spent the last 19 years with Berkadia Commercial Mortgage, most recently as the SVP of Operations and Special Servicing/Default Management.
VIRGINIA BEACH, VA–Waterside DNB LLC has acquired Waterside at Lynnhaven, a 25-building apartment complex with 192 units situated on 15.76 acres. Hunt Mortgage Group arranged the $14.08 million, 12-year Fannie Mae loan to finance the acquisition. The loan is seven-years of interest only followed by 30-year amortization. The buildings were developed in 1966 with 168,360 square feet of rentable space and is situated on 15.76 acres of land. The property is 94% occupied.
RICHMOND, VA–Berkadia arranged $22.04 million in financing for the development and construction of Colony Village II Apartments in Chester, VA. It secured a HUD loan on behalf of the borrower, a Virginia LLC. It is an interest-only, two-year construction loan with a 3.36% fixed interest rate, an 83.5% LTC and a 40-year amortization schedule.
COLUMBIA, MD–Corporate Office Properties Trust has executed a long-term lease with a subsidiary of an investment-grade Fortune 500 company to deliver a 215,000-square-foot shell building on land it owns in Bethlehem Technology Park in Manassa. COPT expects to deliver the building before the end of the third quarter in 2017.
COLLEGE PARK, MD–Greystar Real Estate Partners and private equity firm Rockpoint Group have acquired student housing facility University View at the University of Maryland. They are planning to make upgrades to the two-building property, which has a total 1,573 beds, or 507 units, and 9,218 square feet of ground floor retail space.
BETHESDA, MD–Berkeley Point Capital has hired Ron Steffenino as the Senior Managing Director – Servicing, Asset Management and Special Asset Management (Loss Mitigation). He will manage a servicing portfolio of $53 billion. Steffenino spent the last 19 years with Berkadia Commercial Mortgage, most recently as the SVP of Operations and Special Servicing/Default Management.
RICHMOND, VA–Berkadia arranged $22.04 million in financing for the development and construction of Colony Village II Apartments in Chester, VA. It secured a HUD loan on behalf of the borrower, a
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
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.
