Middle Market Digest: The Mid-Atlantic

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.