WASHINGTON, DC-A joint venture takes ownership of the historic 193-room hotel for $47 million. The new owners plan to submit the already grand eight-decade-old property to a multimillion-dollar renovation.
BALTIMORE-The Renaissance Club Apartments, a 515-unit rental community consisting of 46 structures, gets refinanced to the tune of $17 million. The deal provides the borrower with a fixed-rate loan at 5.21%. The borrower sites low interest rates as its motivation for refinancing.
CHANTILLY, VA-Lakeside II, a 130,000-sf office building that is home to Integic Corp., finds a new owner in Hart Advisers Inc., which is taking on the property on behalf of an institutional client. The final price tag for the recently completed class A facility is $32.5 million.
ASHBURN, VA-A financing deal for a 124,700-sf flex/industrial portfolio on Beaumeade Circle wraps up, leaving the borrower with an $11.4 million loan for the $12.5 million acquisition of the two-building property, which currently counts Freddie Mac as its largest tenant.
WASHINGTON, DC-In hopes of creating a magnet for the area, the mayor urges Metro to sell its 430,000-sf headquarters in the East End and make its home in the southeast neighborhood of Anacostia, which the city is in the midst of revitalizing. The move would also free up space for local developers.
VIENNA, VA-A leasing team is put in place for two office buildings totaling 432,000 sf in the Tysons Corner submarket. Three members of Jones Lang LaSalle's leasing and management group take on the assignment about a month after the properties' change in ownership.
HAMPTON, VA-Executive Tower, the 134,200-sf office building at the intersection of Executive Drive and Tower Road, sells for $15.4 million. It carries the distinction of being the tallest office property in Hampton's central business district, known as the Coliseum Central area.
WASHINGTON, DC-The 384,200-sf office building at 1625 I St. NW opens its doors to an Italian defense contractor. Finmeccanica signs 10-year lease, $20-million lease at the class A property.
OWINGS MILLS, MD-The first phase of the development of a 100-acre parcel along Dolfield Blvd. comes to a close with the completion of 11155 Dolfield Blvd., a 71,400-sf office facility. Commitments from two businesses are already in place, accounting for an aggregate 7,700 sf of space.
OWINGS MILLS, MD-The first phase of the development of a 100-acre parcel along Dolfield Blvd. comes to a close with the completion of 11155 Dolfield Blvd., a 71,400-sf office facility. Commitments from two businesses are already in place, accounting for an aggregate 7,700 sf of space.