ALEXANDRIA, VA-Terms of the purchase weren't disclosed, but Crescent plans to continue with plans to develop the site as proposed by former owners Commonwealth Atlantic Properties. The Potomac Yard Retail Center was not part of the deal.
WASHINGTON, DC-Tompkins Builders has already begun renovating the 1830s, 176,000-sf building, which is being turned into a four-star hotel/restaurant by the Kimpton Hotel and Restaurant Group.
COLUMBIA, MD-The REIT bought five office buildings totaling 314,594 sf, which are 98% leased. The purchase means Corporate Office Properties Trust now owns 55 buildings in the Baltimore-Washington corridor.
MCLEAN, VA-Reilly Mortgage Group closed a dozen loans using the Freddie Mac and Fannie Mae programs to finance garden and high-rise apartment complexes from New York City to Seattle, WA.
WASHINGTON, DC-Consumers will benefit if banks and financial companies are allowed into the real estate and property management businesses, according to the Financial Services Roundtable, which filed its comments with Federal officials.
RESTON, VA-Morton's of Chicago, South Moon Under and Starbucks have leased a retail space at 1 Freedom Square, an 18-story office building, bringing the 414,000-sf building to full occupancy.
WASHINGTON, DC-Fannie Mae will redeem the principal amounts on two MTN-type securities totaling $205 million on March 29, at 100% of their redemption prices plus interest.
WASHINGTON, DC-Saying that allowing banks into real estate will consolidate market power and hurt small companies, real estate groups stepped up their pressure on Congress to nix the Fed's proposal.
ELKRIDGE, MD-Mack Trucks Inc. has signed a 15-year lease with ProLogis for the facility here, where the trucking firm will open its largest North American parts distribution site. PortLogis had five separate sites in this region.