SILVER SPRING, MD-The imposing 1,119-unit Berkshire Towers apartment property gets a new owner, as Stellar Management takes the 19-story building off the hands of Berkshire Realty Holdings LP. Stellar relied on a team of individuals to orchestrate a financing package involving $110 million in first mortgage debt and $36 million in joint-venture equity.
WHEATON, MD-Plans for The Montgomery at Wheaton Metro multifamily complex move full steam ahead with the recent groundbreaking on the 243-unit luxury property. Developers are spending $33 million to construct the apartment project, which is due to be completed next spring.
WHEATON, MD-Plans for The Montgomery at Wheaton Metro multifamily complex move full steam ahead with the recent groundbreaking on the 243-unit luxury property. Developers are spending $33 million to construct the apartment project, which is due to be completed next spring.
FREDERICK, MD-The responsibility for leasing activity at the nearly 200,000-sf Westview Promenade shopping center lands in the lap of real estate services company Madison Retail Group.
MCLEAN, VA-In a transaction valued at $564 million, Sunrise Assisted Living Inc. engages in a 44-property sale/long-term manage back arrangement with a group of investors operating under the watchful eye of Macquarie Capital Partners LLC.
BALTIMORE-Apartment communities prove to be hot properties in Baltimore as the Courts of Avalon and the Excalibur communities get traded from Berkshire Realty Holdings LP to multifamily REIT Town and Country Trust.
BOWIE, MD-The 323,000-sf Free State Mall readies for its makeover as owner JBG Rosenfeld Retail embarks on a massive redevelopment of the retail property. The upgrade will involve adding more retail space as well as remodeling the former 42,000-sf Sears space to accommodate additional buildings.
SILVER SPRING, MD-Discovery Communications moves its staff of more than 1,500 employees into the company's new 550,000-sf global headquarters building. The new facility allows Discovery to consolidate five area offices.
BALTIMORE, MD-Seeking help from real estate services firm Cushman & Wakefield, Resource America Inc. peruses sale and recapitalization possibilities for one of its largest assets, the 475,000-sf Alex.Brown Building.
TYSONS CORNER, VA-Federal government information technology contractor AnviCom Inc. makes plans to accommodate future growth by relocating to an 18,300-sf space at 1934 Gallows Rd.
