WASHINGTON, DC-After four years with MeriStar Hospitality Corp., director of finance Bruce Riggins gets advanced to the position of vice president for strategic planning and analysis. Tasks included in Riggins' new role include the handling of MeriStar's treasury and investor relations.
POTOMAC, MD-The Brittany Portfolio--the four-complex, 1,000-unit collection of apartment residences in the Metropolitan Washington, DC area--hits the market and fetches $106 million, or $99,000 per-unit.
WASHINGTON, DC-Real estate insiders are hoping that the president's economic plan will increase economic growth, thus giving the commercial real estate industry a much-needed shot in the arm.
HERNDON, VA-In preparation for the challenges the real estate industry faces n the new year, the National Association of Industrial and Office Properties names long-time member Daniel R. DeMarco as the 2003 national chairman. DeMarco is with Braintree, MA's Campanelli Cos.
ARLINGTON, VA-Leading retail and entertainment property REIT The Mills Corp. announces the securing of a total of $500 million in financing for three of its shopping centers. The malls involved include Charlotte, NC's Concord Mills; Katy, TX's Katy Mills; and COPT's debut European center, the Madrid Xanadu in Arroyomolinos, Spain.
BALTIMORE-The 20-year-old office campus on Edgewood St. known as Caton 95 gets a new owner. South Edgewood LLC acquired the three-building complex from Grandview Joint Venture LLP for approximately $4.7 million.
WASHINGTON, DC-The 21,300-sf office building at 816 Connecticut Ave. gets snapped up in a $7.5-million deal between seller the Estate of Pierre D'Andrimont and buyer RE Capital Partners. The 15-year-old structure is currently 100% leased and has an assessed value of about $6.7 million.
GREENBELT, MD-Ownership of Triangle Business Centre in the Golden Triangle office park has changed hands in a $10.7-million transaction between seller New Boston Fund Inc. and buyer the Goldstar Group. The nearly 80,000-sf office structure has been in the company's portfolio since 2000.
WASHINGTON, DC-The Atlantic Building is in for a renaissance, as CarrAmerica Realty Corp. and Douglas Development announce their plans to redevelop and expand the historic downtown structure at 930 F St. Upon its scheduled 2005 completion, the corner property will feature 290,000 sf of office and retail space.
WASHINGTON, DC-The Atlantic Building is in for a renaissance, as CarrAmerica Realty Corp. and Douglas Development announce their plans to redevelop and expand the historic downtown structure at 930 F St. Upon its scheduled 2005 completion, the corner property will feature 290,000 sf of office and retail space.