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THE DONALDSON GROUP AND DRA ADVISORS LLC ACQUIRE 126-UNIT APARTMENT COMMUNITY IN TEMPLE HILLS, MD

The Donaldson Group (TDG) of Rockville, MD and its equity partner, New York-based DRA Advisors LLC (DRA), have acquired

Brinkley Manor Apartments, a 126-unit garden-style apartment community located in Temple Hills, Maryland. The acquisition price was approximately $15.05 million, and the partnership plans to invest additional capital to renovate the property.

 

Robert LaChapelle and Matthew Forgione of CBRE Debt & Structured Finance assisted the DRA-TDG partnership…

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Added by Leslie Braunstein on June 26, 2017 at 4:24pm — No Comments

5 Cap Realty LLC Acquires Apartment Communities in PA, GA for $60 Million,

Pennsylvania-based 5 Cap Realty LLC (5 Cap) and its affiliate RREIC Advisors has teamed with a private equity fund vehicle managed by JMP Asset Management LLC, an affiliate of publicly traded JMP Group LLC, to launch a multi-year national investment venture that could top $1 billion in assets under management.  The venture will focus on acquiring and operating value-add multifamily assets that can be renovated, leased, and managed to create superior risk-adjusted returns.

This new…

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Added by Leslie Braunstein on June 23, 2017 at 2:06pm — No Comments

True Food Kitchen Sets June 14 Opening in Bethesda, MD

The long-awaited opening of acclaimed True Food Kitchen in Bethesda, MD is scheduled for Wednesday, June 14, 2017. This sophisticated, healthy dining concept will occupy the entire 6,400 square foot retail space in Washington Property Company’s Solaire Bethesda luxury apartment community, which delivered in late 2016 and has been leasing rapidly.

The Bethesda location will be True Food Kitchen’s second in the Washington, DC metropolitan area, following the successful 2014 launch in…

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Added by Leslie Braunstein on April 17, 2017 at 5:30pm — No Comments

Washington Property Company Acquires Two Suburban DC Office Buildings for $8M

Washington Property Company (WPC) of Bethesda, MD has acquired two office buildings in the Maryland and Virginia suburbs of Washington, DC for a total of $7.96 million. These acquisitions – one in Montgomery County, MD and the other in Fairfax County, VA - represent deep-value opportunities from motivated sellers.

Computer Science Corporation (CSC) sold WPC a 116,000 square foot office building located at 3160 Fairview Park Boulevard just off I-495 in Fairfax County, VA, for $7.150…

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Added by Leslie Braunstein on March 31, 2017 at 2:08pm — No Comments

WASHINGTON REIT TO ACQUIRE 309,000 SF WATERGATE 600 OFFICE BUILDING FOR $135 MILLION

Washington REIT (Washington Real Estate Investment Trust – NYSE: WRE) has signed a contract to acquire 600 New Hampshire Avenue, NW, a 309,000 square foot Class A office building on the Potomac riverfront in Washington, DC, for  approximately $135 million ($437 per square…

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Added by Leslie Braunstein on March 27, 2017 at 6:53pm — No Comments

Washington Property Company Breaks Ground on 338-Unit Apartment Building in Silver Spring, MD

Bethesda, MD-based Washington Property Company (WPC) will break ground shortly on its latest luxury apartment community, Solaire 8250 Georgia Avenue, just two blocks from the Silver Spring (MD) Metro and multi-modal transit station. This is WPC’s fourth Solaire-branded apartment community and its second in Silver Spring’s rapidly evolving Ripley District.

Upon completion of Solaire 8250 Georgia Avenue in spring of 2019, WPC’s four Solaire communities will total over 1,000 units,…

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Added by Leslie Braunstein on March 10, 2017 at 6:20pm — No Comments

STONEBRIDGE ACQUIRES 228-UNIT ATLANTA APARTMENT COMMUNITY

StoneBridge Investments of Washington, DC has acquired 550 Abernathy Apartments, a 228-unit apartment community in the greater Atlanta submarket of Sandy Springs, for $31 million. The seller, an entity controlled by Harbor Group, was represented by Kevin Geiger of CBRE.

The property is located at 550 Abernathy Road NE within Perimeter Center, a fast-growing “edge city” that encompasses three small cities: Brookhaven, Dunwoody, and Sandy Springs. It is Atlanta’s largest employment…

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Added by Leslie Braunstein on January 23, 2017 at 12:29pm — No Comments

StoneBridge Investments Acquires Columbia, MD Apartment Community for $25 Million

StoneBridge Investments of Washington, DC has acquired Beech’s Farm, a 135-unit rental apartment community in Columbia, MD, for $25.5 million. The seller, an entity controlled by McDowell Properties, was represented by CBRE’s Mid-Atlantic multifamily team.

Located on Eden Brook Drive and originally built in 1985, Beech’s Farm is comprised of seven two- and three-story buildings resembling townhomes. The new ownership intends to renovate apartment interiors upon turnover and add a…

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Added by Leslie Braunstein on December 20, 2016 at 1:08pm — No Comments

Atlantic Realty and Angelo, Gordon Acquire Tysons (VA) Office Complex for $78.8 Million

Atlantic Realty Companies of Tysons, VA (“Atlantic”) and New York-based alternative investment firm Angelo, Gordon & Co. have acquired Tysons Concourse from California State Teachers' Retirement System (CalSTRS) for $78.8 million. Tysons Concourse consists of two Class A office buildings located near Atlantic's headquarters in the heart of rapidly transforming Tysons, VA.  CalSTRS was represented by Eastdil Secured in the transaction.

Situated just one block from the recently…

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Added by Leslie Braunstein on November 7, 2016 at 3:45pm — No Comments

Washington Property Company’s Solaire Bethesda Delivers

Bethesda, MD-based Washington Property Company has completed construction of its latest and most upscale urban living destination, Solaire Bethesda, with 139 luxury rental apartments atop street-level retail space that will feature a True Food Kitchen restaurant scheduled to open in early 2017.

 

Strategically located at the corner of Wisconsin and Woodmont Avenues in the heart of one of the Washington area’s most…

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Added by Leslie Braunstein on October 31, 2016 at 11:14am — No Comments

Washington Property Company’s Solaire Bethesda Delivers

Bethesda, MD-based Washington Property Company has completed construction of its latest and most upscale urban living destination, Solaire Bethesda, with 139 luxury rental apartments atop street-level retail space that will feature a True Food Kitchen restaurant scheduled to open in early 2017.

 

Strategically located at the corner of Wisconsin and Woodmont Avenues in the heart of one of the Washington area’s most…

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Added by Leslie Braunstein on October 31, 2016 at 11:14am — No Comments

The Sanctuary Condos Nearing Completion in 119-Year-Old Capitol Hill Church Building

Washington’s latest church-to-condo conversion may be the city’s most awe-inspiring to date. The Sanctuary, located at 819 D Street, NE in the Stanton Park neighborhood of prestigious Capitol Hill, offers 30 distinctive homes carefully designed and built within the stately red brick walls of a 19th-century Gothic Revival church. The building’s meticulous restoration produces incredible spaces with soaring ceilings, monumental windows, and residences that will not be…

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Added by Leslie Braunstein on June 21, 2016 at 12:23pm — No Comments

Urban Pace and The Long & Foster Companies Join Forces

Urban Pace, which provides marketing, sales, advisory, and consulting services to real estate developers, has joined forces with The Long & Foster Companies. Urban Pace will continue to operate with its same team, brand, and current office location.

“Long & Foster identified the growing demand for urban vertical living as an enormous opportunity, and decided that they want to be part of that evolution,” said Urban Pace founder Lynn Hackney. “Investing in the Urban Pace brand,…

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Added by Leslie Braunstein on April 18, 2016 at 4:40pm — No Comments

Real Estate Tops List of Commercial unmanned aircraft systems

Real estate is one of the top uses for commercial unmanned aircraft systems (UAS) operations, a new interactive report from the Association for Unmanned Vehicle Systems International (AUVSI) has found. The FAA has granted more than 1,900 exemptions for real estate operations out of more than 3,000 exemptions. Realtors around the country have been using UAS to enhance their businesses by sharing aerial views of…

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Added by Deputy Managing Editor on April 13, 2016 at 3:09pm — No Comments

JCR Acquires Manassas, VA Shopping Center for $22.6 Million

The JCR Companies of Washington, DC has acquired Signal Hill Shopping Center in Manassas, VA for $22.6 million in an off-market transaction. Regency Centers was the seller; Sandy Spring Bank provided acquisition financing.

This 105,781 square foot grocery-anchored shopping center enjoys a highly visible location along the vibrant Liberia Avenue retail corridor, sharing the Signal Hill Road intersection with a high-volume Walmart Supercenter. Signal Hill’s synergistic mix of dynamic…

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Added by Leslie Braunstein on March 27, 2016 at 11:35pm — No Comments

DC Area Housing Prices Near Ten-Year High

Housing prices in the Washington, DC metropolitan area have reached their highest prices since 2006, according to Urban Pace’s end-of-the-year housing market report. At the same time, housing inventory growth declined last year and is down more than 60 percent from its 2007 peak.

“Our analysis of the data in the Urban Pace report clearly indicates one thing: a healthy housing market in 2016 and most likely beyond,” said Lynn Hackney, President of Urban Pace, a Washington, DC-based…

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Added by Leslie Braunstein on February 15, 2016 at 2:00pm — No Comments

Atlantic Realty Brings Main Street Movies 5 to Newark (DE) Shopping Center

Main Street Movies 5 will open a five-screen, state-of-the-art movie theater with reserved, reclining seats and refreshments from local vendors at the Newark (DE) Shopping Center in August of 2016. The new theater will replace the shuttered Newark Cinema Center, which operated from the early 1960’s through October of 2015.

 

Main Street Movies 5 has signed an 18,000 square foot lease with Atlantic Realty Companies of Tysons, VA, which acquired the Newark Shopping Center four…

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Added by Leslie Braunstein on January 22, 2016 at 5:05pm — No Comments

Washington Property Co. Leases 22,000 SF to Conflulytics Leases 22,000 SF in Silver Spring, MD

Conflulytics, LLC has leased 22,255 square feet of office space in Washington Property Company’s (WPC) 242,000 SF multi-tenant office building at 8757 Georgia Avenue in Silver Spring, MD. This was the largest new tenant lease in Montgomery County during the last quarter of 2015.

“We are excited that this promising technology start-up has selected our Silver Spring office building, with easy access to Metro and a wide variety of amenities, for its new location,” said Joshua Gurland,…

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Added by Leslie Braunstein on January 22, 2016 at 5:03pm — No Comments

Assessing the 2015 GRESB Report Highlights in Preparation for Your 2016 Submission

Results of the 2015 Global Real Estate Sustainability Benchmark (GRESB) Report were recently released.  Widely recognized as the industry standard for measuring and benchmarking the environmental, social, and governance (ESG) performance of real estate funds, the GRESB report saw an across-the board increase in investor members, report participants, property value, and number of assets covered relative to 2014 figures.

The importance of GRESB is due in no small part to the increased…

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Added by Brinda Sen on January 14, 2016 at 12:25pm — No Comments

Washington REIT Completes Renovation, Leasing At 1775 Eye Street, NW

A year after acquiring the 185,000 SF office building at 1775 Eye Street, NW in Washington, DC’s central business district, Washington REIT (NYSE:WRE) has completed an extensive $4.2 million renovation and executed leases for 79,000 SF of space, bringing the building to 98 percent leased status.

The latest leases to be signed were with the National Cooperative Business Association (NCBA) for approximately 17,000 SF and the National Multifamily Housing Council for approximately 11,000…

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Added by Leslie Braunstein on December 10, 2015 at 12:34pm — No Comments

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