WASHINGTON, DC-Senate members get a pat on the back from the Mortgage Bankers Association for the introduction of the Multifamily Housing Loan Limit Improvement Act. The bill provides for the indexing of FHA multifamily loan limits.
ARLINGTON, VA-Development team the Akridge Cos., Multi-Employer Property Trust and The Holladay Corp. have topped out construction of the $53 million The Hartford, a 212,000-sf office building in the city's Clarendon neighborhood. A $15 million residential building will be attached to the structure.
WASHINGTON, DC-New York-based Insignia/ESG leaps into real estate financing with the newly established Finance and Capital Markets Group. The firm has tapped its 15-year industry veteran Paul C. Dougherty to serve as the group's national director.
BALTIMORE, MD-Prime Retail Inc. disposes of the Bridge Properties, six outlets in six states accounting for 1.3 million sf of retail space, in a $118.7 million sale to a joint venture.
BALTIMORE, MD-Cambrex Bio Science Facility will build a $5million addition to its 60,000-sf property at 5901 E. Lombard St. The project entails adding development and analytical laboratories and a pre-clinical pilot plant. Construction is scheduled for completion in spring 2003.
WASHINGTON, DC-Cushman & Wakefield taps broker Andrew M. White will direct mid-Atlantic expansion plans of the Apartment Group, the multi-family investment advisory firm Cushman acquired in 2001.
WASHINGTON, DC-The three-decade-old, 100,000-sf building at 1015 18th St. commands a price of $21 million in a deal between buyer Harbor Group International and seller the State of Illinois Pension Fund. The office property is 87% occupied and leases space for about $34-per-sf.
BETHESDA, MD-Work on the $25-million Grosvenor Metro station parking garage is scheduled to get underway first thing next week. Montgomery County and the Washington Metropolitan Area Transit Authority are financing construction of the 1,200-vehicle, six-story facility, which is scheduled for completion next fall.
WASHINGTON, DC-The Washington Metropolitan Area Transit Authority teams with a joint venture of developers to create a $68-million mixed-use development at the Rhode Island Avenue metro station. The multi-structure complex will have 270 apartments, 70,000 sf of retail space and a seven-story garage.
WASHINGTON, DC-Both the US House and Senate have now appointed conferees to meet and create one terrorism insurance bill out of the two different legislative packages from the congressional chambers. Twelve congresspersons and seven senators will confer on the matter in September.