ROCKVILLE, MD-Commercial mortgage concern Criimi Mae reports a $3.6-million loss for the second quarter due to impairment charges, but as a result, the company heads into the third quarter with a clear assessment of the entire portfolio.
WATERFORD, VA-The historic 144-acre Phillips Farm is on its way to being saved from a development project, with the Trust for Public Land's plan to acquire the property. The group has until Halloween to come up with the funds or the property will be sold to developers.
WILMINGTON, DE-ElderTrust, a senior housing and health-care facility REIT, finds a crafty way to pay off a $14-million loan. The company extends loans on three properties, sells one facility and secures a cash infusion from another asset to come up with the cash.
BALTIMORE-MacKenzie Properties and Kinsley Properties team up on a $60-million redevelopment endeavor that calls for renovations to two of five existing industrial buildings at the 30-acre site and construction of a 200,000-sf office/flex structure.
WASHINGTON, DC-West, Lane & Schlager Realty Advisors opens a new investment services group that will focus its attention on the metropolitan Washington, DC region's thriving real estate market. Former Insignia/ESG players Richard F. Siegel and Paul M. Hanafin will handle disposition, acquisition and development activity.
ANNAPOLIS, MD-Developer Jerome J. Parks Cos. looks to Transwestern Commercial Services to handle office leasing activity at its new mixed-use Park Place development. Transwestern will be responsible for signing tenants to the two-building, 250,000-sf office portion of the multi-faceted complex, where office space is going for $28 per-sf.
RICHMOND, VA-Washington, DC's Douglas Development has snapped up the 170,000-sf office building known as the 7th and Franklin Building in a $6.35 million deal with seller Chevy Chase Land Co.
WASHINGTON, DC-Marriott International Inc. gets on the receiving end of a lawsuit as minority shareholder Amalgamated Bank files suit against the company for failure to disclose relevant financial information.
WASHINGTON, DC-Law Firm Foley & Lardner goes on the hunt for new office digs to replace its current locales in two different places, totaling 187,000 sf. Jones Lang LaSalle is spearheading the search.
ARLINGTON, VA-The 196,000-sf Ellipse at Ballston, a class A property in the heart of Arlington, holds on to tenant Environ International Corp. with a five-year lease renewal.
