WASHINGTON, DC-Construction financing closes for a new luxury condominium at 910 M St. in the city's East End neighborhood. Hypo Real Estate Capital Corp. secures $49 million for project developers the Carlyle Group and Faison Enterprises, which plant to complete the 190-unit property in July 2006.
BALTIMORE-A vacant parcel once home to the Hollander Ridge public housing community is set to play host to a new mixed-use development now that the Baltimore Development Corp. has handed over the development rights of the property to Hollander Rock LLC.
JESSUP, MD-Feld Entertainment, parent company of Ringling Bros. and Barnum & Bailey, decides to stay put and renew its lease on 114,500 sf at 8230 Sandy Ct. The lease agreement also allows for the company's eventual expansion into the remaining 27,500 sf of the 142,000-sf industrial facility.
WASHINGTON, DC-Trizec Properties Inc. takes over primary ownership of the 229,000-sf office building at 2001 M St. in a deal valued at $76.6 million. The class A facility is 100% occupied, with lead tenant KPMG occupying 211,000 sf under lease through 2011.
TYSONS CORNER, VA-Coldwell Banker Commercial Capitol Realty Services makes a big play for the multifamily market with the creation of its new National Multi-Family Finance Group, a division that will facilitate apartment financing to the vast pool of clients of Coldwell Banker Commercial affiliates across the country.
PORTSMOUTH, VA-The Holiday Inn Olde Towne Portsmouth gets a new owner in a recent deal valued at $6.7 million. The 219-room hotel is now under the ownership of a non-profit corporation that plans to redevelop the 3.6-acre site on which the hotel sits.
BALTIMORE COUNTY-Plans for Baltimore Crossroads@95, a massive 5.5 million-sf mixed-use enclave, move forward as the owner and master developer of the project select developers for various segments of the endeavor. MIE Properties will oversee the R&D/flex/office element, while First Industrial Realty Trust Inc. will handle the manufacturing/industrial portion of the 1,000-acre development.
ARLINGTON, VA-The Hartford, a new 212,000-sf office building near the Clarendon Metro station, opens its doors to a new tenant, PageSoutherlandPage. The architecture and engineering firm will occupy an 11,200-sf space at the class A building under a long-term lease agreement.
UPPER MARLBORO, MD-Three new high schools are in the works for Prince George's County as county officials announce a $129-million building program that will also provide for the physical improvement of three existing schools. The work will take place over a six-year period.
WASHINGTON, DC-Leasing activities at two significant properties in the District, 80 M St. and 1800 K St., are now under the direction of Jones Lang LaSalle. The owners of the two class A office facilities, which account for a total of 480,000 sf, decide to forsake previous brokerage teams in favor on Jones Lang LaSalle.