WASHINGTON, DC–Buyers and sellers and the brokers that represent them are racing to close transactions that have been in the works before the end of the year. In recent days and weeks there have been major trades in just about every asset class including multifamily, a core office property, an office park in the suburbs, a retail center and an industrial property.
Let's begin.
A source tells GlobeSt.com that Jefferson Apartment Group has acquired Arbors at Broadlands, a midrise, 240-unit apartment building in Ashburn, VA., for $56.5 million, or $235,271 per unit.
The last purchase the company made in Virginia was in April when it scooped up Somerset Park for $23.5 million.
Morning Calm Management based in West Palm Beach, Fla., has acquired Capital Office Park in Greenbelt, MD, for $49 million or $60 per square foot. The REIT Mack-Cali is the seller of the 811,782 square foot complex, which consists of seven buildings that are roughly 60% occupied. Mack-Cali acquired the park in 2006 for $161 million and invested another $8 million to renovate it.
In Potomac, MD, EDENS has acquired the Cabin John Shopping Center for $165 million from the Carl M. Freeman Cos. The 214,204-square foot center is anchored by Giant and CVS.
Terreno Realty has scooped up, as it periodically does, another asset in the area: the 45,000-square foot Washington Business Park in Lanham, MD, for $6.7 million. The flex property is fully occupied.
WASHINGTON, DC–Buyers and sellers and the brokers that represent them are racing to close transactions that have been in the works before the end of the year. In recent days and weeks there have been major trades in just about every asset class including multifamily, a core office property, an office park in the suburbs, a retail center and an industrial property.
Let's begin.
A source tells GlobeSt.com that Jefferson Apartment Group has acquired Arbors at Broadlands, a midrise, 240-unit apartment building in Ashburn, VA., for $56.5 million, or $235,271 per unit.
The last purchase the company made in
Morning Calm Management based in West Palm Beach, Fla., has acquired Capital Office Park in Greenbelt, MD, for $49 million or $60 per square foot. The REIT Mack-Cali is the seller of the 811,782 square foot complex, which consists of seven buildings that are roughly 60% occupied. Mack-Cali acquired the park in 2006 for $161 million and invested another $8 million to renovate it.
In Potomac, MD, EDENS has acquired the Cabin John Shopping Center for $165 million from the Carl M. Freeman Cos. The 214,204-square foot center is anchored by Giant and CVS.
Terreno Realty has scooped up, as it periodically does, another asset in the area: the 45,000-square foot Washington Business Park in Lanham, MD, for $6.7 million. The flex property is fully occupied.
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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.
