DEAL TRACKER

LEESBURG, VA–Dejia LLC, a first time hotel investor, was the buyer of the 296-unit Lansdowne Resort, which we reported earlier was sold by LaSalle Hotel Properties for $133 million.

LANDSDOWNE, MD–Circle Terrace, a 303-unit affordable housing property owned and managed by Landex Corp. has sold to Millenia Housing Development for $30.5 million. SVN Affordable | Levental Realty was the listing broker on behalf of Landex, which was the original developer of the project, built and financed under Section 236 in 1977.

WASHINGTON, DC–Washington REIT has closed on its previously announced acquisition of one of the Watergate offices, located at 600 New Hampshire Ave., NW. The 309,000-square foot property traded $135 million in a transaction structured to include the issuance of units for a portion of the purchase price. The prior owner's debt on the asset was repaid at closing.

RICHMOND, VA–Laburnum Park Shopping Center, a 61,860-square foot retail property, has sold for its asking price of $7.3 million. The buyer was Westover Apartments LLC, an Arlington-based partnership that needed to make a 1031 transaction. Marcus & Millichap's Dean Zang and Christopher Phillips listed the property on behalf of the seller, PCS Laburnum LLC, a partnership between Bethesda-based Spectrum Partners and Potomac Capital Advisors.

ARLINGTON, VA–Virginia Hospital Center has selected HDR out of a total of 11 architectural firms to design a new addition to the campus. HDR and two others were shortlisted for interviews with the executive team at VHC and Hammes Co., the owner's program manager.

BETHESDA, MD–True Food Kitchen is taking 6,400 square feet of retail space in Washington Property Co.'s Solaire Bethesda luxury apartment, which delivered in late 2016. True Food will open in June.

NEWS & NOTABLE

McLEAN, VA–Freddie Mac expects to see a 3% to 6% increase in total multifamily origination volumes this year, depending on the 10-year Treasury movement. The GSE calculates that if the 10-year Treasury remains near 2.5%, its multifamily originations for 2017 will reach $295 billion for a 6% year over year increase. Conversely, if the 10-year Treasury rises as high as 4%, Freddie's volume growth might drop to $290 billion, a 3% year over year uptick.

In other words, “…a moderate rise in interest rates alone will not be enough to cause any significant disruption to the multifamily investment market,” Steve Guggenmos, Freddie Mac Multifamily vice president of research and modeling, said in a prepared statement.

In 2016 the GSE closed $280 billion in multifamily mortgage origination volume.

DEAL TRACKER

LEESBURG, VA–Dejia LLC, a first time hotel investor, was the buyer of the 296-unit Lansdowne Resort, which we reported earlier was sold by LaSalle Hotel Properties for $133 million.

LANDSDOWNE, MD–Circle Terrace, a 303-unit affordable housing property owned and managed by Landex Corp. has sold to Millenia Housing Development for $30.5 million. SVN Affordable | Levental Realty was the listing broker on behalf of Landex, which was the original developer of the project, built and financed under Section 236 in 1977.

WASHINGTON, DC–Washington REIT has closed on its previously announced acquisition of one of the Watergate offices, located at 600 New Hampshire Ave., NW. The 309,000-square foot property traded $135 million in a transaction structured to include the issuance of units for a portion of the purchase price. The prior owner's debt on the asset was repaid at closing.

RICHMOND, VA–Laburnum Park Shopping Center, a 61,860-square foot retail property, has sold for its asking price of $7.3 million. The buyer was Westover Apartments LLC, an Arlington-based partnership that needed to make a 1031 transaction. Marcus & Millichap's Dean Zang and Christopher Phillips listed the property on behalf of the seller, PCS Laburnum LLC, a partnership between Bethesda-based Spectrum Partners and Potomac Capital Advisors.

ARLINGTON, VA–Virginia Hospital Center has selected HDR out of a total of 11 architectural firms to design a new addition to the campus. HDR and two others were shortlisted for interviews with the executive team at VHC and Hammes Co., the owner's program manager.

BETHESDA, MD–True Food Kitchen is taking 6,400 square feet of retail space in Washington Property Co.'s Solaire Bethesda luxury apartment, which delivered in late 2016. True Food will open in June.