NEWS & NOTABLES

WASHINGTON, DC–Urban Land Institute has tapped Billy Grayson, an expert in sustainability program development, to be the executive director of its Center for Sustainability and Economic Performance. The center, which was established in 2014, is dedicated to creating healthy, resilient, and high performance communities around the world, with a special emphasis on sustainable design and development. As head of the center, Grayson will oversee ULI's activities related to the connection between land use and the environment and natural resources, energy conservation, climate change adaptation, and health and wellness.

DEAL TRACKER

ARLINGTON, VA–AvalonBay Communities has provided an operating update, reporting that it expects total rental revenue for its established communities for the three months ending June 30, 2017 to increase between 2.5% and 2.6% over the prior year period.

ELKRIDGE, MD–Cabot Properties has acquired 6940 San Tomas Rd., a fully leased, 143,924-square-foot industrial asset located in Route 100 Industrial Park from DCT Industrial. The property is fully leased to Microflex. NGKF Capital Markets facilitated the sale.

McLEAN, VA–Park Hotels & Resorts has announced the pricing of its secondary offering of 15 million shares of its common stock. Stockholders affiliated with The Blackstone Group priced it at $26.15 per share. The offering is expected to close on June 7, 2017, subject to customary closing conditions.

WASHINGTON, DC– Hanover Courts, a multifamily community in the Randle Heights submarket, has traded for $5.45 million. Greysteel represented the seller in the deal, an LLC. The apartment is located at 2400-2410 Hartford St, SE.

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Middle Market Digest: The Mid-Atlantic

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