ALEXANDRIA, VA—Finmarc Management has plans toacquire $100 million more in properties for theremainder of this year, the company announced as it scooped up itslatest prize: two waterfront properties here for $31.5million.

Earlier this week the company announced it had purchasedWaterfront Center I and II, a two-building officeportfolio here consisting of more than 150,000 square feet, whichis 69% leased. The seller is Gates Hudson.Gerry Trainor, Jim Cardellicchio, Wesley Machowsky andClifton McCrory of Transwestern's InstitutionalCommercial Group represented both the buyer and the sellerin this transaction.

Waterfront Center 1, located at 801 N. Fairfax St., is afour-story building, 60,000 square foot building with ground floorretail. It delivered in 1971.

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.

Washington, DC