BETHESDA, MD-A $92-million deal between Host Marriott Corp. and Sarofim Realty Advisors closes. As announced late last year, Host is walking away with the millions in return for handing over 85% of its interest in the Courtyard joint venture, which involves 120 Courtyard by Marriott hotels.
BALTIMORE-The city takes a step toward the development of the Baltimore Convention Center Headquarters Hotel with the Baltimore Development Corp.'s recent pre-qualification of five teams to submit design-build proposals for the 750-room project.
ARLINGTON, VA-The 550,000-sf office facility that is the second phase of Arlington Gateway, a 1.2-million-sf mixed-use project, readies for occupancy now that Clark Construction Group LLC's construction of the 12-story structure is complete. Developed by JBG Cos., the office building will share a site with a hotel and residential building.
ARLINGTON, VA-One Liberty Center reaches completion as the Clark Construction Group wraps up construction of the 550,000-sf office facility, which is just one facet of what will be a1.1 million-sf mixed-use development. Nearly the entire 13-story, class A structure will be occupied by the federal government.
BLADENSBURG, MD-In a deal valued at $28 million, ownership of the Park Place Towers Apartments changes hands. The new owner, the Reserve at Park Place LLC, plans modest renovations to the 449-unit property, which was completed in 1971 and upgraded in the 1980s.
ALEXANDRIA, VA-The Seminary Forest Apartments community is about to come under new ownership and will also get a facelift, courtesy of the recent closing of a $50-million acquisition and renovation finacing deal. The new owner plans to use $10 million of the loan on upgrades.
ARLINGTON, VA-Interstate Hotels & Resorts becomes the manager of a 22-property hotel portfolio recently acquired in a $366-million transaction by a partnership involving a Goldman Sachs-managed investment fund and Highgate Holdings affiliates. The properties encompass 5,895 rooms in locales from California to Massachusetts.
DULLES, VA-Developer the Buccini/Pollin Group marks the opening of the Homewood Suites by Hilton Dulles-North and the Embassy Suites Hotel Dulles-North, two new hotel properties offering a total of 240 guest rooms on the same street near the Washington-Dulles International Airport.
ROCKVILLE, MD-The expansion of US Pharmacopeia's headquarters moves forward with the Montgomery County Planning Board's approval of the company's plans for the addition of 156,000 sf of laboratory and research and development space. The board's go-ahead paves the way for construction to begin.
