NEWS & NOTABLES
BETHESDA, MD–Robert Kiernan is joining Global Medical REIT as CFO. He will succeed Donald McClure, who is pursuing other opportunities. Prior to this Kiernan was the SVP, Controller and Chief Accounting Officer of FBR & Co. and earlier, Arlington Asset Investment Corp.
DEAL TRACKER
FREDERICKSBURG, VA–Holliday Fenoglio Fowler has arranged $17.5 million in acquisition financing for a three-building distribution facility here totaling 487,897 square feet that is fully leased to CVS Caremark Corp. HFF, on behalf of the borrower, ARCTRUST, placed the 10-year, fixed-rate loan with Kansas City Life Insurance Co. The CVS distribution facility is one of the company's 17 U.S. distribution centers, servicing 377 CVS stores across Maryland, North Carolina, Virginia and the District of Columbia.
NEWARK, DE–Greystone has provided a $26.65 million Fannie Mae DUS loan in combination with $5.35 million in preferred equity from New York Mortgage Trust, for the acquisition of Autumn Park, a 358-unit garden-style, multifamily property here. The transaction was originated by Keith Hires of Greystone's Atlanta office with Ryan Ade and Neil Campbell of HFF as correspondents on the deal. The Fannie Mae DUS loan includes a 7 / 6 adjustable rate at 3 years of interest-only and a 30-year amortization.
ROCKVILLE, MD–Finmarc Management has acquired a four-building, 123,000-square foot portfolio of warehouse and manufacturing space for $8.6 million. Located on 627-649- 655 North Horners Lane and 202 Mason Drive and known as the EU Services Buildings, the portfolio is 100% leased by Envelopes Unlimited. Jay Clogg of Jay Clogg Realty Group represented the seller in this transaction and he has also been selected by Finmarc as the leasing broker.
WASHINGTON, DC–The J Street Cos. brokered the sale of the Palisades office building, an 8,216-square foot property at 1415 Elliot Place, NW. The sellers were the principals of Reingold, a public relations firm. The buyers own separate businesses, a global travel company and an international mechanical engineering firm and will occupy most of the main building.
NEWS & NOTABLES
BETHESDA, MD–Robert Kiernan is joining Global Medical REIT as CFO. He will succeed Donald McClure, who is pursuing other opportunities. Prior to this Kiernan was the SVP, Controller and Chief Accounting Officer of
DEAL TRACKER
FREDERICKSBURG, VA–Holliday Fenoglio Fowler has arranged $17.5 million in acquisition financing for a three-building distribution facility here totaling 487,897 square feet that is fully leased to
NEWARK, DE–Greystone has provided a $26.65 million
ROCKVILLE, MD–Finmarc Management has acquired a four-building, 123,000-square foot portfolio of warehouse and manufacturing space for $8.6 million. Located on 627-649- 655 North Horners Lane and 202 Mason Drive and known as the EU Services Buildings, the portfolio is 100% leased by Envelopes Unlimited. Jay Clogg of Jay Clogg Realty Group represented the seller in this transaction and he has also been selected by Finmarc as the leasing broker.
WASHINGTON, DC–The J Street Cos. brokered the sale of the Palisades office building, an 8,216-square foot property at 1415 Elliot Place, NW. The sellers were the principals of Reingold, a public relations firm. The buyers own separate businesses, a global travel company and an international mechanical engineering firm and will occupy most of the main building.
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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.
