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Despite rising interest rates and eroding housing affordability, the average cost of home ownership in the US as a percentage of income is extremely low, according to a new report by Grosvenor Research.…Continue
Posted on March 18, 2014 at 4:19pm — 1 Comment
Aria Development Group has just unveiled its latest dramatic multifamily residential transformation: The Alden, located in Washington’s storied Columbia Heights neighborhood. On the heels of its $10 million renovation of The Bond apartments near Dupont Circle, The Alden brings Aria’s sensibility and attention to detail to another great DC market. Forty-four one- to three-bedroom apartments at The Alden are now available, with monthly rents for market-rate units starting at $1,950. Twenty…Continue
Posted on February 24, 2014 at 10:23am
Bethesda, MD-based Washington Property Company (WPC) has closed $35.5 million in permanent financing for its 242,000 SF office building at 8757 Georgia Avenue in the heart of Silver Spring, MD. US Bank provided the loan. Walker & Dunlop represented WPC in the transaction.
Originally built in the 1970s, 8757 Georgia Avenue was acquired WPC in 2001 following completion of a $20 million renovation. Current tenants include Social & Scientific Systems, Inc., Corinthian Colleges,…Continue
Posted on February 24, 2014 at 10:00am
Washington Property Company (WPC) leased a total of 80,489 square feet in its suburban Washington, DC office portfolio during the first half of 2013. This total included over 47,000 SF at 8757 Georgia Avenue in the urban core of Silver Spring, MD.
“We are on track to have an excellent year leasing our office portfolio of over 1.5 million square feet, while developing one million square feet of residential space,” said Derek Hendon, President, WPC Management, LLC. In 2012, the company…Continue
Posted on August 26, 2013 at 1:30pm
Real Estate Capital Partners (RECAP) of New York City has acquired a 200-unit apartment community in Vancouver, WA in a joint venture with West Coast-based Holland Partners. The Class B garden apartment property, called Arnada Pointe, was built between 1995 and 1997.
Posted on July 15, 2013 at 3:02pm