MCLEAN, VA-Sunrise Assisted Living sells 80% interest in two of its senior living communities for $29.7 million to a California-based public pension fund. The deal leaves Sunrise with management responsibilities and a 20% interest in both properties.
BETHESDA, MD-White Flint East, the WMATA-LCOR Inc. $450-million mixed-use project, takes a step toward realization with the recent submission of plans for the 2.8 million-sf development to Montgomery County. County officials have to approve rezoning.
BALTIMORE, MD-MuniMae reveals it will invest as much as $175 million between now and 2006 in a venture with Rockville, MD's Capreit. Already, $64 million has been committed to purchasing equity interests in 18 of Capreit's property partnerships. Capreit will contribute $16 million to the venture.
ARNOLD, MD-Anne Arundel Community College will open a new 77,000-sf, $10.65 million school on the county's west side, thanks to a partnership with its fundraising arm Anne Arundel Community College Foundation. Construction of the facility will be complete in August 2003.
OAK HILL, WV-Non-profit owner Charleston area Medical Center Health System sells the 90-bed Plateau Medical Center to Brentwood, TN's for-profit Community Health Systems, Inc. in a $9.3 million deal. Plateau is the only acute care facility in the town.
PRINCE FREDERICK, MD-A public-private partnership forms between the Calvert County Board of County Commissioners and the YMCA of Metropolitan Washington in an effort to develop a new YMCA family center on the 12-acre site known as the Old Fairgrounds Property.
NORFOLK, VA-The expansion project at Norfolk International Airport comes to an end with the official opening of the new, 243,000-sf terminal and nine-story garage scheduled for July 1. A dedication ceremony, attended by local and state officials, took place earlier this week.
HENRICO COUNTY-The Hanover Company and a development partner have acquired a 32.5-acre site off Hunton Park Boulevard from Atack Properties in a $2.7-million transaction. They plan to use the space to build a 14-building, 300-unit luxury apartment complex.
WILMINGTON, DE-After standing vacant following a devastating 1997 fire, the 680,000-sf Delaware Trust Building will be redeveloped as a 370-unit luxury apartment complex. Demolition of a portion of the 22-story structure is expected to begin within the next few weeks.
PRINCE WILLIAM COUNTY-Comcast Communications has chosen Virginia as the location of its new Technology Support Center and will build the 100,000-sf facility in Innovation @ Prince William business park. Comcast will count among its neighbors, George Mason University and American Type Culture Collection.