GAITHERSBURG, MD-The owner of the Flower Hill Shopping Center secures $6.5 million in refinancing for the 93,000-sf grocery-anchored retail destination. The loan, orchestrated through GMAC Commercial Mortgage Corp. and provided by JP Morgan, is for a 15-year term with a 30-year amortization.

CASCADE, MD-In a deal valued at a reported $7.5 million, Corporate Office Properties Trust agrees to acquire Fort Ritchie, the 600-acre former US Army base that was decommissioned six years ago. No less than 330 acres of the property are suitable for development.

WASHINGTON, DC-The National Press Building gets a new owner as Quadrangle Development Corp., acting on behalf of National Capital Properties Trust II, acquires the majority interest in the property from Resource Properties Inc. The nearly 500,000-sf property has an assessed value of about $147 million.

WASHINGTON, DC-Owners of the nearly 400,000-sf building being developed at 1101 New York Ave. tap real estate services firm Spaulding & Slye Colliers to head up leasing activity for the class A office facility. Construction is set to begin in November.

WASHINGTON, DC-Members of the US Senate put forth S. 2764 to extend the Terrorism Risk Insurance Act of 2002 beyond its scheduled expiration date of December 31, 2005. The Senate's version of the bill comes just one month after the House introduced its version.

BALTIMORE-After many failed plans, a new idea for the vacant parcel at 500 E. Pratt St. comes to the fore in a presentation to the city's Design Advisory Panel. Developers David S. Brown Enterprises Ltd. and A&R Development Corp. are proposing a $50 million apartment, hotel and retail high-rise project for the spot.

WASHINGTON, DC-Legislators take action through a discharge petition to move forward the proposed National Housing Trust Fund Act, which would create a federal fund to build and rehabilitate 1.5 million rental housing units for low-income families over the next decade.

WASHINGTON, DC-EagleBank expands its presence in the District by taking on 5,200 sf of space at One McPherson Square, the 214,000-sf building at 1425 K St. The community business bank will open up its third branch in the city in December.