GAITHERSBURG, MD-Highland acquires the site for approximately $29 million of $138,000 per key. Part of the Washingtonian Center development project, the 210-room property just opened on May 31.
WASHINGTON, DC-Somera is getting set to invest $60 to $80 million throughout the eastern seaboard. Thomas P. Falatko joins the firm as senior vice president to manage a new office here and expand the company's investment activities.
OLD TOWN ALEXANDRIA, VA-Grosvenor purchases two boutique retail properties on the Potomac River waterfront here. The firm hopes to work with the city to expand Old Town's focal point.
ROCKVILLE, MD-Washington Real Estate Investment Trust plans to use the net proceeds to repay borrowings under its lines of credit. In other matters, executive vice president and chief investment officer Christopher P. Mundy resigns.
WILMINGTON, DE-The Buccini/Pollin Group will be announcing plans for the construction of two office buildings on the waterfront at next week's groundbreaking at Justison Landing.
PORTSMOUTH, VA-A leading market watcher says more investors are sizing up secondary markets to deposit their gain from sales of core buildings in major markets. Norfolk's Hampton Roads is poised to be one beneficiary.
ROCKVILLE-Washington REIT spends $11.7 million for a 101,741-sf warehouse in Washington Business Park in Prince George's County. The new owner's upside is filling the 21% vacancy.
BALTIMORE-As the company completes financing for the historic skyscraper it looks to other deals in the city. The firm pays $14.6 million for the landmark Equitable Building.
FAIRFAX, VA-The class A office space was acquired in an off-market transaction for $66 million. Republic also owns the other two buildings in the park.
ROCKVILLE, MD-Local restaurants and retailers commit to space in the 12.5-acre mixed-use community. Plans call for 644 condominiums, 180,000 sf of retailers, a 100,000-sf Montgomery County public library, a 40,000-sf cultural arts center and an open-air town square.