CHESAPEAKE, VA-GMAC Commercial Mortgage Corp. wraps up a financing package for the Holly Point Apartments, a 619-unit multifamily property that was developed between 1985 and 1994. The deal involves a fixed-rate permanent loan with a 30-year amortization.
MCLEAN, VA- Cushman & Wakefield plans to establish a presence in Maryland and expand its hold on the Northern Virginia market by bringing in industry heavy hitters Peter Berk and David Millard from Transwestern Commercial Services.
WASHINGTON, DC-The hotel-laden intersection of 24th and M streets prepares to welcome a new multifamily property, as ground breaks on the Sovereign at 2400 M Street, a 350-unit luxury apartment building.
WILMINGTON, DE-The Newark area's loss becomes Wilmington's gain with Health Core Inc.'s recent decision to uproot it's headquarters from the Christiana Medical Arts Pavilion and re-establish itself in a 32,000-sf space.
FREDERICK, MD-Work has begun on the Shops at Monocacy on a 13-acre parcel at the intersection of Rte. 26 and Monocacy Blvd. The 107,000-sf outdoor shopping center is scheduled to open this fall.
WASHINGTON, DC-CDC Mortgage Capital Inc. wraps up a financing deal for the acquisition of the Transpoint Building, the 500,000-sf office structure that serves as home to the US Coast Guard.
NEWPORT NEWS, VA-Owners of the Brookridge Apartments are in receipt of funds from a $13.5 million permanent refinancing package, arranged through Freddie Mac by financial services firm GMAC Commercial Mortgage Corp.
FALLS CHURCH, VA-Instead of leasing, Store to Door will build its own 65,000-sf warehouse for its supply of mobile self-storage containers. The company is relying on Trinity Group Construction to build the state-of-the-art facility.
WASHINGTON, DC-The Association of Foreign Investors in Real Estate reports that foreign interest in commercial properties in the US saw a big leap in 2003, increasing by 59% over the previous year's numbers.