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Urban Investment Partners (UIP) and Criterion Holdings have acquired two Maryland apartment communities with a total of 385 units for $39,340,000. An affiliate of New York City-based Starr International Company provided equity and is a limited partner in the new ownership group. The seller, represented by CBRE Mid-Atlantic Multifamily Investment Sales Team, was a partnership between Boston-based Intercontinental Real Estate and Sawyer Realty Holdings.
Laurel Pines, located at 14601…Continue
Posted on November 20, 2014 at 1:15pm
Philadelphia-based Lubert-Adler Partners sold Tiburon, a 320-unit Class A apartment community in Houston, TX, to a private individual. ARA Real Estate Investment Services represented Lubert-Adler in the transaction.
On behalf of several of its clients, Lubert-Adler acquired Tiburon in 2011 from its original developer, UDR, Inc., as part of a larger value-add multifamily investment strategy. From 2010 to 2013, Lubert-Adler acquired and subsequently repositioned a $2 billion portfolio…Continue
Posted on November 20, 2014 at 12:51pm
Washington Property Company (WPC) of Bethesda, MD has leased 110,978 square feet of office and retail space in its Maryland and Virginia properties:
MARYLAND – Total of 72,416 SF
8616 Cameron Street, Silver Spring, MD – 48,422 SF
• LA Fitness extended its lease of 48,422 SF. Joshua Gurland of WPC represented the owner.
6900 Wisconsin Avenue, Bethesda, MD – 3,978 SF
• Don Pollo of Bethesda leased 907 SF. Al Charbonneau of Evers & Co. represented the tenant.…
Posted on October 13, 2014 at 7:20pm
The Chesapeake Crescent Initiative (CCI), a public-private collaborative founded six years ago by Washington, DC real estate icon Herb Miller and former AOL Chief Counsel George Vradenburg, is leading a “Safe + Smart Cities” coalition to help cities optimize their operational performance and harden their resiliency through the efficient use of technology. The coalition has selected Newark, Delaware for its first pilot.
CCI has assembled a group of world-class experts from…
Posted on October 1, 2014 at 1:46pm
One of the oldest structures in Washington, DC is close to becoming the city’s newest condominium residence. The Maples’ 19 unique homes, located just steps from historic Eastern Market in the heart of Capitol Hill, are scheduled to deliver by the end of the year. Urban Pace, Washington’s leading condo sales and marketing firm, already has presold 70 percent of the project at an average of $725 per square foot – some $200/SF higher than expected, setting a neighborhood record.
Posted on September 30, 2014 at 11:20am