HERNDON, VA-Los-Angeles-based Oakwood Worldwide purchased the Jefferson at President's Park 20-acre corporate apartment complex for $61 million. The complex, under construction, will be renamed Oakwood Dulles.
ASHBURN, VA-Sales are brisk at Belmont Greene, a neighborhood development here that includes recreation, religious and office buildings. More than 50 homes are pre-sold along with a Montessori Academy slated to open in the fall of 2001.
WASHINGTON, DC-The Organization of American States building at 1889 F St., NW renovations are scheduled for completion by the summer of 2002. OAS operations in the 350,000-sf building will be consolidated. Three will be leased.
TYSONS CORNER,VA-Bethesda Corner Specialty Retail Center, a 60,000-sf shopping center, is getting a $3.5-million renovation. Upscale furniture retailer Maurice Villency will anchor the center along with Parvizian Masterpieces.
WASHINGTON, DC-A real estate investment doubled in value in 18 months. The Bernstein Companies and Finmarc Management Inc. sold a 230,000-sf warehouse to Sears Great Outdoors for $21 mil. They paid $10.5 mil for the property.
ROCKVILLE,MD-Manugisitcs Group Inc. is slated to be the lead tenant for a 26-acre office park at Key West Avenue and Great Seneca Highway. The company will move into its new headquarters in Spring 2002.
WASHINGTON, DC-When President Clinton signed HR 4577 into law, he enabled provisions designed to encourage investments in economically distressed areas. The measure provides $31.6 billion in tax relief to the apartment industry.
WASHINGTON,DC-Boston Properties Inc.'s 11-story, 405,371-sf mixed-use office building at Market Square North is now fully leased, according to company officials. The property will be 100% occupied by March 2001.
BETHESDA, MD-Hines, an international real estate firm, is slated to pay about $120 million for two Washington-area office buildings. The company plans to purchase Capital Gateway II and IV, twin five-story 574,000 sf office buildings.
BALTIMORE, MD-A series of transactions, including the sale of four outlet centers and payment of short-term debt, is keeping Prime Retail Inc. out of bankruptcy court. Costly loan extensions are also in the works.