WASHINGTON, DC-On behalf of Prudential Real Estate Investors, Spaulding & Slye Collliers sells the Navy Yard Metro Center to Dallas, TX-based Crow Holdings for $68 million. The 275,000-sf structure is fully leased.

WASHINGTON, DC-Four industry experts form a new hotel ownership and management company, Smilezzzz Hospitality, Inc. The District-based firm expects to spend anywhere from $200-$300 million in purchases across the country over the next 18 months.

HAGERSTOWN, MD-Baltimore's Prime Retail, Inc sells its 70% interest in Prime Outlets at Hagerstown for $23.5 million. The company will take a little over $12 million of the proceeds to pay down the remaining debt on a $90 million mezzanine loan.

WASHINGTON, DC-Targeting economically distressed communities, the US Department of Housing and Urban Development chooses seven new Empowerment Zones that will have access to $17 billion worth of tax breaks and other incentives. $11 billion of the funds is set aside specifically for low-income housing.

HERNDON, VA- Cushman & Wakefield oversees the $61-million dollar sale of two buildings on behalf of the buyers, both of which are under the management of TA Associates Realty, Inc. The two buildings sit along the Dulles Toll Road, and account for a combined total of more than 330,000 sf of prime office space.

BALTIMORE, MD-Prime Retail, Inc.'s Executive vice president-general counsel C. Alan Schroeder resigns from his position and R. Kelvin Antill, currently a senior vice president-general counsel, wins the board of directors' vote as Schroeder's new successor.

WASHINGTON, DC-The US General Services Administration signs a lease in record time for 219,750 sf of space to house the new National Park Services Administration headquarters at 1201 Eye St.

WASHINGTON, DC-The National Association of Real Estate Trusts holds a teleconference to discuss what the future holds for the continued success of the REIT industry, and where things stand in Congress with terrorism insurance.