Search
 

Middle Market Digest: The Mid-Atlantic

WASHINGTON, DC--Spirit Bascom Ventures makes its first investment in the Washington DC area with its acquisition of Tribeca at Camp Springs.

By Erika Morphy | Updated on February 05, 2018

Tribeca at Camp Springs

NEWS & NOTABLES

BETHESDA, MD–Northpoint Realty Partners has made three new hires to its leadership team in Northpoint Services. They are:

  • Grid Gremi, P.E, who joins as Managing Director/Partner. Previously he was a senior project manager at Orr Partners.
  • Michael S. Ollinger, also a new Managing Director/Partner. Previously, he was Assistant Vice President at Orr Partners.
  • Andrew V. Marusak, IV, who joins as Managing Director/Partner. Marusak was Vice President of Construction at Combined Properties Inc.

DEAL TRACKER

CAMP SPRINGS, MD–Spirit Bascom Ventures, a joint venture between Spirit Investment Partners and The Bascom Group has acquired Tribeca at Camp Springs, a 198-unit residential community plus 18,880-square feet of ground floor commercial space that was built by Wood Partners in 2008. The community is located at 4701 Old Soper Rd. CIT Group provided debt financing to acquire the property, which was sourced by Jamie Leachman of HFF. Walter Coker and Brian Crivella of HFF represented the seller on the transaction. This is the first DC area deal for Spirit Investment Partners, according to Principal Scott Zwilling.

ALEXANDRIA, VA–PRP has acquired of 4900 Seminary Rd. and 4825 Mark Center Dr. from CIII. Built in 1986 and 2000, respectively, the buildings are located within the Mark Center submarket, which is situated along I-395, and across the street from the Mark Center Transit Center. 4825 Mark Center Dr. comprises 220,000 square feet across eight floors, and 4900 Seminary Rd. comprises 200,000 square feet across twelve floors. Upon the completion of the renovations and leasing of both assets, PRP will target LEED status and Energy-Star ratings for both buildings.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?

NOT FOR REPRINT

© 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.

GlobeSt

Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join GlobeSt.com now!

  • Free unlimited access to GlobeSt.com's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including ThinkAdvisor.com and Law.com.

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.