ROCKVILLE, MD-Washington Real Estate Investment Trust plans to use the net proceeds to repay borrowings under its lines of credit. In other matters, executive vice president and chief investment officer Christopher P. Mundy resigns.
WILMINGTON, DE-The Buccini/Pollin Group will be announcing plans for the construction of two office buildings on the waterfront at next week's groundbreaking at Justison Landing.
PORTSMOUTH, VA-A leading market watcher says more investors are sizing up secondary markets to deposit their gain from sales of core buildings in major markets. Norfolk's Hampton Roads is poised to be one beneficiary.
ROCKVILLE-Washington REIT spends $11.7 million for a 101,741-sf warehouse in Washington Business Park in Prince George's County. The new owner's upside is filling the 21% vacancy.
BALTIMORE-As the company completes financing for the historic skyscraper it looks to other deals in the city. The firm pays $14.6 million for the landmark Equitable Building.
FAIRFAX, VA-The class A office space was acquired in an off-market transaction for $66 million. Republic also owns the other two buildings in the park.
ROCKVILLE, MD-Local restaurants and retailers commit to space in the 12.5-acre mixed-use community. Plans call for 644 condominiums, 180,000 sf of retailers, a 100,000-sf Montgomery County public library, a 40,000-sf cultural arts center and an open-air town square.
WASHINGTON, DC-The DC area continues to lead in office. Overall, the indicator points to a net absorption of industrial and office space for the rest of 2006.
WASHINGTON, DC-Fannie Mae agrees to pay $400 million in a $11-billion accounting scandal. Also as part of the agreement, the company will undertake a comprehensive reform program.
