MANASSAS, VA-Stone Bridge Corporate Center, a new 47-acre class A office park, is on its way to Northern Virginia. Under development by the Alter Group, the project will cost an estimated $100 million to complete.
GAITHERSBURG, MD-A financing deal in the amount of $20.3 million closes for the Hilton Washington DC/North Gaithersburg Hotel, courtesy of RockBridge Capital LLC. Funds from the first mortgage will be used for the acquisition and renovation of the 301-room property.
HUNT VALLEY, MD-A 210,000-sf office facility in the Highland Office Park finds a new owner. Richard Goldberg takes over ownership of the fully leased, class A building from Bentley Forbes. The property is currently assessed at a value of nearly $25.2 million.
WASHINGTON, DC-Two administrative buildings at Georgetown University come under new ownership as Prudential Real Estate Investors takes the properties--accounting for a total of 240,500 sf--off the school's hands in exchange for about $75 million. The university will continue to occupy the buildings under a 15-year lease agreement.
COLUMBIA, MD-The entire 46,000-sf building at 7142 Columbia Gateway Dr. becomes home to American Home Mortgage in a recent lease signing. The class A office structure is part of a five-building, 21-acre office compound known as Gateway Crossing 95.
ALEXANDRIA, VA-In a deal valued at $56.5 million, or $149,500 per-unit, Jamestowne Village LLC sells the 378-unit Jamestowne Village Apartments to Mid-City Urban LLC. The new owner plans to convert the entire property, built in the early 1960s, into condominiums.
BALTIMORE-Bringing an end to lawsuits filed by the Maryland Disability Law Center and the US Department of Justice, the Housing Authority of Baltimore City agrees to spend $50 million over a six-year period on housing units designed to accommodate the disabled.
CHANTILLY, VA-The class A office building in Westfields Corporate Center known as Corporate Pointe III finds a new owner in Columbia, MD-based REIT Corporate Office Properties Trust, which is taking the fully leased 114,000-sf property off the hands of MedMarc Mutual Insurance Co. for $21.7 million.
DUNDALK, MD-Dundalk Plaza, a 184,000-sf shopping center in Baltimore County, comes under new ownership courtesy of a recent $13 million transaction. Oekos Management Corp. brings the 85%-occupied retail property into its portfolio, buying it from Vornado Realty-owned partnership Dundalk VF LLC.
PRINCE GEORGE'S COUNTY, MD-Situated on a 41-acre parcel along the Potomac River, the sprawling approximately $500-million project will feature 400,000 sf of meeting space and 1,500 hotel rooms.