MCLEAN, VA-Highland Hospitality Corp. closes a three-year, $100-million term loan facility with Wells Fargo Bank as the administrative agent. The funds, company officials say, will help facilitate the purchase of additional hotel properties in the near future.
WASHINGTON, DC-Real estate services firm Cafritz Co. spins off its development business into a separate entity with the formation of J Street Development Co. LLC. Bruce Baschuk, Cafritz Co. president and CEO, resigns his position to head up the new venture.
HERNDON, VA-ePlus Inc. moves its headquarters into its new 50,000-sf, recently renovated home at 13595 Dulles Technology Dr. Approximately 230 employees will work out of the company's new location. The move marks a consolidation of two local offices for the information technology company.
ARLINGTON, VA-With the recent approval from the Arlington County Board, a 251-unit condominium development with 20 affordable housing residences set aside will make its way to South Arlington.
BALTIMORE-The industrial building at 1301 Chesapeake Ave. becomes the new home of Tristar Freight Systems as the company relocates from its home near the Anne Arundel County border to a 90,000-sf space at 1301 Chesapeake Ave. The move nearly triples the company's space.
BALTIMORE-Plans for the National Aquarium's Center for Aquatic Life and Conservation move forward with the announcement of the impending acquisition of 20 acres to host the new $110 million complex. The new development will be an annex of the Aquarium's existing 250,000-sf headquarters site.
MANASSAS, VA-Windsor at Battlefield Park comes under new ownership as First Potomac Realty Trust acquires the 154,000-sf office/flex property in an all cash deal valued at approximately $15.3 million. The two-structure facility is presently 57% occupied by three businesses.
LANSDOWNE, VA-Two Riverbend, a 67,600-sf office building across from the Lansdowne Resort, sells in a recent $10.1 million deal. Great Point Investors is taking the class A office property off the hands of SSR Realty Advisors at a rate of $149.50 per-sf.
SILVER SPRING, MD-An acquisition financing deal closes for the Avery Park apartment complex, leaving borrower Rieder Communications LLC with a $64-million loan. The multifamily property features more than 600 residential units among 53 structures.
MANASSAS, VA-A $13.6 million financing package closes for the Euclid Business Center, a new multi-structure office/flex warehouse property totaling 144,000-sf. The purpose of the permanent financing is to replace an existing construction loan on the property, which is currently 90% occupied.